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200 Goo Compound Instruments ncludes two components cial instrument Chapter 15 Assignment Nams Question 1 On January 1, 2021 Taffy Inc. granted 210,000 stock appreciation rights (SAR) to its executives. Each SAR entitled its holder to receive cash equal to the difference between the market price of the common share and the benchmark price of $16. The SARs vested after three years and expired on Dec 31, 2026. On January 1, 2024, 100,000 SARs are exercised. The market price of the shares remained at $20. On January 1, 2025, 50,000 SARS are exercised. The market price of the shares remained at $22. The remaining SARs expired. 16-20= 4, TOOOO Pertinent stock-related data are listed below: Fair value each SAR Market price of share $16 $10 $21 $18 January 1, 2021 December 31, 2021 December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 December 31, 2026 $7 $20 $15 $14 Required: a. Prepare the journal entry at December 31, 2021, to record compensation expense. Date Debit Credit Explanation/Account Competation Expense Lone teoo - Competitie latte b. Prepare the journal entry at December 31, 2022, to record compensation expense. Date Explanation/Account Debit Credit C. Prepare the journal entry at December 31, 2023, to record compensation expense. Date Explanation/Account Debit Credit sal instrument How Chapter 15 Assignment d. Prepare the journal entry at January 1, 2024. to record the partial exercise of the SARS Date Explanation/Account Debit Credit e. Prepare the journal entry at December 31, 2024, to record compensation expense. Date Explanation/Account Debit Credit f. Prepare the journal entry at January 1, 2025. to record the partial exercise of the SARs. Date Explanation/Account Debit Credit g. Prepare the journal entry at December 31, 2025, to record compensation expense. Date Explanation/Account Debit Credit h. Prepare the journal entry at December 31, 2026, to record compensation expense. Date Explanation/Account Debit Credit Calculations