Question
Peace corp. gave 500 SAR to 300 employees on 1 April 2018, with the condition that the employees must remained employed for the next 3
Peace corp. gave 500 SAR to 300 employees on 1 April 2018, with the condition that the employees must remained employed for the next 3 years and the rights are to be exercised by April 30 2022, where the settlement will be paid in cash.
In year 1 (April 1 2018-March 31 2019), 28 employees lefts and another 30 was expected to leave in the next two years.
In year 2 (April 1 2019-March 31 2020), 25 employees left and another 15 were expected to leave in the next year
No data are available for the the year ending March 31 2021.
The FV of each SAR is $6 and $10 at March 31 2019 and March 31 2020, respectively.
Provide journal entry for y/e March 31 2020 to record the expenses associated with The share appreciation asset (SARS) according to HKFRS 2.
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