On January 1, 2018, Adams-Meneke Corporation granted 15 milion incentive stock options to division managers, each permitting holders to purchase one share of the company's $1 par common shares within the next six years, but not before December 31, 2020 the vesting date). The exercise price is the market price of the shares on the date of grant, currently $50 per share. The fair value of the options, estimated by an appropriate option pricing model, is $5 per option. Management's policy is to estimate forfeltures. No forfeltures are anticipated. Ignore taxes. Required: 1. Determine the total compensation cost pertaining to the options on January 1, 2018. 2. Prepare the approprlate journal entry to record compensation expense on December 31, 2018. ns. Determine the ad sted compensation cost, and prepare the appropriate journal entryls) on December 31, 2019 and 2020. Complete this question by entering your answers in the tabs below. Required 1Required 2 Required 3 Determine the total compensation cost pertaining to the options on January 1, 2018. (Enter your answer in millions (i.e. 10,000,000 should be entered as 10).) al compensation cost million Required 1 Required 2 Complete this question by entering your answers in the tabs below Required 1Required 2Required 3 Prepare the appropriate journal entry to record compensation expense on December 31, 2018. (If no entry is required for a transaction/event, select No journal entry required in the first accountied. Enter your answers in millions rounded todecimal iace (i.e., 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet Record compensation expense n December 31, 2018. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018 Record entry Clear entry View general journal 1. Determine the total compensation cost pertaining to the options on January 1, 2018. 2. Prepare the appropriate journal entry to record compensation expense on December 31, 2018. 3. Unexpected turnover during 2019 caused an estimate of the forfeiture of 10% of the stock options. Determine the adjusted compensation cost, and prepare the appropriate journal entrys) on December 31, 2019 and 2020. Complete this question by entering your answers in the tabs below Required 1Required 2 Required 3 unexpected turnover during 2019 caused an estimate of the forfeiture of 10% of the stock options. Determine the adjusted compensation cost, and prepare the appropriate journal entry(s) on December 31, 2019 and 2020. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places i.e., 5,500,000 should be entered as 5.50).) Show less View transaction list Journal entry worksheet Record the compensation expense. Note: Enter debits before credits. Date General Journal December 31, 2019 compensation cost, and prepare the approprlate journal entrys) on December 31, 2019 and 2020. Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 unexpected turnover during 2019 caused an estimate of the forfeiture of 10% of the stock options. Determine the adjusted compensation cost, and prepare the appropriate journal entry(s) on December 31, 2019 and 2020. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 2 decimal places i.e., 5,500,000 should be entered as 5.50).) Show less View transaction list Journal entry worksheet Record the compensation expense Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2020
