Question
On January 1, 2019, Golow Inc., granted 300,000 stock options to several of its officers for the purchase of the Companys $10 par value common
On January 1, 2019, Golow Inc., granted 300,000 stock options to several of its officers for the purchase of the Companys $10 par value common stock at an option price of $30 PER SHARE. The options were exercisable beginning January 1, 2021 by grantees still working for the Company on that date. (There is a two year service period.) Any unexercised options will terminate on December 31, 2029. Assume that the fair value option pricing model determines total compensation expense to be $3,000,000. On March 31, 2021, 200,000 options were exercised. The remaining options terminated because they werent exercised. Required: Please prepare all the necessary entries to be recorded for 2019, 2020, 2021, and 2029. (SHOW ALL WORK)
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