On January 1, 2020, Blaine Corporation granted 6,000 options to executives. Each option entitles the holder to
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On January 1, 2020, Blaine Corporation granted 6,000 options to executives. Each option entitles the holder to purchase one share of Blaine's common shares at $35 per share at any time after January 1, 2022. The shares' market price is $50 per share on the date of grant, and the required service period is two years. Prepare Blaine's journal entries for January 1, 2020, and December 31, 2020 and 2021. Assume that the options' fair value as calculated using an options pricing model is $126,000. Ignore forfeitures for simplification purposes.
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1120 No entry 123120 Compensation Expense 1 63000 Cont...View the full answer
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Related Book For 
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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