EcoMotors’s disclosure notes for the year ending December 31, 2017, included the following regarding its $0.001 par common stock: Employee Stock Purchase Plan Our employees are eligible to purchase our common stock through payroll deductions of up to 20% of their eligible compensation, subject to any plan limitations. The purchase price would be 80% of the lower of the fair market value on the first and last trading days of each six-month offering period. During the years ended December 31, 2017, 2016, and 2015, we issued 220,671, 163,700 and 220,671 shares under the ESPP for $37.6 million, $28.7 million and $13.9 million, respectively. There were 3,616,749 shares available for issuance under the ESPP as of December 31, 2017. Prepare the journal entry that summarizes EcoMotors’s employee share purchases for the year ending December 31, 2017. I have Debit cash $37.6mil, credit common stock $221 but I can't figure out how to calculate compensation expense.
EcoMotors’s disclosure notes for the year ending December 31, 2017, included the following regarding its $0.001 par common stock: Employee Stock Purchase Plan Our employees are eligible to purchase our common stock through payroll deductions of up to 20% of their eligible compensation, subject to any plan limitations. The purchase price would be 80% of the lower of the fair market value on the first and last trading days of each six-month offering period. During the years ended December 31, 2017, 2016, and 2015, we issued 220,671, 163,700 and 220,671 shares under the ESPP for $37.6 million, $28.7 million and $13.9 million, respectively. There were 3,616,749 shares available for issuance under the ESPP as of December 31, 2017. Prepare the
I have Debit cash $37.6mil, credit common stock $221 but I can't figure out how to calculate compensation expense.
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