9/1/2023 Grant options with 2-year vesting to Fox officers to buy 30,000 common shares for $16 each (MV: $16 now, $18 average for 2023) over 10-year exercise period; options currently valued at $300,000. prepare Journal entries and adjusted journal entries if needed for 2023
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- Subscriptions On August 3, 2019, the date of incorporation, Quinn Company accepts separate subscriptions for 1,000 shares of 100 par preferred stock at 104 per share and 9,000 shares of 110-par, no-stated-value common stock for 22 per sl1are. The subscription contracts require a 10% down payment, with the balance due by November 1, 2019. Shares are issued to each subscriber upon full payment. On November 1, Quinn received the remaining balances for the shares of preferred stock and common stock. Required: Prepare journal entries to record all the transactions related to: 1. the preferred stock 2. the common stockOn January 1, 2019, Phoenix Corporation adopts a performance-based share option plan for 25 executives, with the number of shares based on the yearly increase in sales. At the end of 2019, based on a 10% increase in sales, it expects that each executive will be granted 150 options and that the fair value of an option expected to vest is 15.75. Phoenix expects a turnover rate of 15% over the 3-year service period. Determine the compensation expense for 2019 for this plan.Restricted Share Units On January 2, 2019, Dekker Company grants each of its 15 new employees 200 restricted share units. Each of the time-vested restricted share units entitles the employee to receive one share of Dekker common stock if they remain an employee of the company for 2 years. On January 2, 2019, shares of Dekkers 2 par value common are trading at 52 per share. Dekker estimates that 12 of the 15 employees will complete 2 years of service with the company. At the end of 2020, Dekker reported that four employees left the company before completing the service period. Required: 1. Prepare a schedule of Dekker s computations for its restricted share unit plan for 2019 and 2020 (round all computations to the nearest dollar). 2. Prepare all journal entries for the restricted share unit plan for 2019 and 2020.
- On 5/31/2022 Grant options, that vest in 36 months, to officers to buy 50,000 common shares for $18 each (current MV $18) over a an 8-year exercise period, valued at $450,000 using Black-Scholes pricing model. Average 2022 CS MV is $20. What would the journal entry be for 2022?Subject: accounting On January 1, 2019, QRS Company granted 80,000 stock options to certain executives. The option vesting period is 4 years ending on December 31, 2022. Each option can be exercised to acquire one share of $1 par common stock for $5. The fair value of each option was estimated to be $3 on the grant date. What amount should QRS recognize as compensation expense for 2020?LCI Cable Company grants 1 million performance stock options to key executives at January 1, 2018. Theoptions entitle executives to receive 1 million of LCI $1 par common shares, subject to the achievement ofspecific financial goals over the next four years. Attainment of these goals is considered probable initially andthroughout the service period. The options have a current fair value of $12 per option.Required:1. Prepare the appropriate entry when the options are awarded on January 1, 2018.2. Prepare the appropriate entries on December 31 of each year 2018–2021.3. Suppose at the beginning of 2020, LCI decided it is not probable that the performance objectives will be met.Prepare the appropriate entries on December 31 of 2020 and 2021.
- LCI Cable Company grants 1 million performance stock options to key executives at January 1, 2021. The options entitle executives to receive 1 million of LCI $1 par common shares, subject to the achievement of specific financial goals over the next four years. Attainment of these goals is considered probable initially and throughout the service period. The options have a current fair value of $12 per option.Required:1. Prepare the appropriate entry when the options are awarded on January 1, 2021.2. Prepare the appropriate entries on December 31 of each year 2021–2024.3. Suppose at the beginning of 2023, LCI decided it is not probable that the performance objectives will be met. Prepare the appropriate entries on December 31 of 2023 and 2024.On December 31, 2026, Brushy Mountain Co. grants its employees options to purchase 25,000 shares of $1 par common stock for $20 per share. The options vest on December 31, 2030 (after 4 years) and expire on December 31, 2031. On the date of grant, the shares are trading for $22 per share and the options have a fair value of $5 each. If all 25,000 options are exercised on January 1, 2031, the journal entry to record the exercise of the options will include a credit to Additional Paid-In Capital (APIC) - Common Stock equal to:Darius Inc. granted 200,000 stock options to its employees. The options expire 10 years after the grant date of January 1, 2021. The share price was $23 when the options were issued. Employees who are still with the company five years after the grant date may exercise the options to purchase shares at $45 per share. A consultant has estimated the value of each option on the grant date to be $2.50 per option. How much compensation expense should Darius Inc. record in 2021? Question 5 options: $460,000 $500,000 $880,000 $100,000
- FIU Inc granted 25,000 stock options to its top management team on January 1, 2022. The options vest at the end of 5 years (cliff vesting). The grant-date fair value of each option is $100. No forfeitures are expected to occur. The company is expensing the cost of the options on a straight-line basis over the 5-year period. On January 1, 2023, the fair value of each option is $95. On January 1, 2024, the fair value is $98. On January 1, 2024 the fair value of each option is $96. Determine the amount to be recognized as compensation expense for each of the 5 years under (a) IFRS, and (b) US GAAP.On january 1 2020 share options were granted to employees where they can purchase 100,000 ordinary shares of P80 par value of P100 per share. The fair value od share options on this date was P25 per share. The officers are entitled to the share options only after completing two years of service. The options could be exercise starting january 1,2022 and shall expire on December 31, 2022. The amount of compensation expense to be reported on 2020 is 0 1,250,000 2,500,000 8,000,000LCI Cable Company grants 1 million performance stock options to key executives at January 1, 2016. The options entitle executives to receive 1 million of LCI $1 par common shares, subject to the achievement of specific financial goals over the next four years. Attainment of these goals is considered probable initially and throughout the service period. The options have a current fair value of $12 per option. Required: 1. Prepare the appropriate entry when the options are awarded on January 1, 2016. 2. Prepare the appropriate entries on December 31 of each year 2016–2019. 3. Suppose at the beginning of 2018, LCI decided it is not probable that the performance objectives will be met. Prepare the appropriate entries on December 31 of 2018 and 2019.
