On January 1, 2015, Titania Inc granted stock options to officers and key employees for the purchase of 33,700 shares of the companys $13 par common stock at $23 per share The options were exercisable within a 5 year period beginning January 1, 2017, by grantees still in the employ of the company, and expiring December 31, 2021 The service period for this award is 2 years Assume that the fair value option pricing model determines total compensation expense to be $407,400 On April 1, 2016, 3,370 options were terminated when the employees resigned from the company The market price of the common stock was $37 per share on this date On March 31, 2017, 20,220 options were exercised when the market price of the common stock was $44 per share Prepare journal entries to record issuance of the stock options, termination of the stock options, exercise of the stock options, and charges to compensation expense, for the years ended December 31, 2015, 2016, and 2017 (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts ) On January 1, 2015, Titania Inc granted stock options to officers and key employees for the purchase of 33,700 shares of the company's $13 par common stock at $23 per share The options were exercisable within a 5 year period beginning January 1, 2017, by grantees still in the employ of the company, and expiring December 31, 2021 The service period for this award is 2 years Assume that the fair value option pricing model determines total compensation expense to be $407,400 On April 1, 2016, 3,370 options were terminated when the employees resigned from the company The market price of the common stock was $37 per share on this date On March 31, 2017, 20,220 options were exercised when the market price of the common stock was $44 per share Prepare journal entries to record issuance of the stock options, termination of the stock options, exercise of the stock options, and charges to compensation expense, for the years ended December 31, 2015, 2016, and 2017 (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts )

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On January 1, 2015, Titania Inc. granted stock options to officers and key employees for the purchase of 33,700 shares of the companys $13 par

On January 1, 2015, Titania Inc. granted stock options to officers and key employees for the purchase of 33,700 shares of the companys $13 par common stock at $23 per share. The options were exercisable within a 5-year period beginning January 1, 2017, by grantees still in the employ of the company, and expiring December 31, 2021. The service period for this award is 2 years. Assume that the fair value option-pricing model determines total compensation expense to be $407,400. On April 1, 2016, 3,370 options were terminated when the employees resigned from the company. The market price of the common stock was $37 per share on this date. On March 31, 2017, 20,220 options were exercised when the market price of the common stock was $44 per share. Prepare journal entries to record issuance of the stock options, termination of the stock options, exercise of the stock options, and charges to compensation expense, for the years ended December 31, 2015, 2016, and 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) image text in transcribed

On January 1, 2015, Titania Inc. granted stock options to officers and key employees for the purchase of 33,700 shares of the company's $13 par common stock at $23 per share. The options were exercisable within a 5-year period beginning January 1, 2017, by grantees still in the employ of the company, and expiring December 31, 2021. The service period for this award is 2 years. Assume that the fair value option-pricing model determines total compensation expense to be $407,400. On April 1, 2016, 3,370 options were terminated when the employees resigned from the company. The market price of the common stock was $37 per share on this date. On March 31, 2017, 20,220 options were exercised when the market price of the common stock was $44 per share. Prepare journal entries to record issuance of the stock options, termination of the stock options, exercise of the stock options, and charges to compensation expense, for the years ended December 31, 2015, 2016, and 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)