Scottburgh Ltd grants 500 options to each of the 12 members of its executive management team 6,000 options in total) on 1 July 2020. These options vest at the end of a three-year period. Scottburgh Ltd has determined that each option has a fair value at the date of grant equal to $3.00. Required: Provide journal entries at 31 December 2020 assuming that the company expects that four employees will leave before the shares vest. QUESTION 22 Painter Ltd purchased 90 000 shares in Easel Ltd on the 1 July 2020, at a price of $3.50 each. The Broker charged a fee of $7 000 for processing the transaction. On 30 June 2021 the closing market price of the Easel Ltd shares was $5.20. Painter Ltd does not intend to hold the shares for trading and does not make the fair value through other comprehensive income election (FVOCI). Required: Prepare the journal entries for Painter Ltd to account for the initial acquisition of the shares on 1 July 2020, and the subsequent re-measurement at the end of the financial year on 30 June 2021. QUESTION 23 February 2021, and both entities have indicated their intent to settle the amounts on a net basis. Thus, a legal right of set-off between the two companies has been documented in writing. Bailey Ltd purchased equipment to the value of $350 000 from Beam Ltd on credit, settlement of which is due on 15 February 2021. During the financial year. Beam Ltd purchased inventory from Bailey Ltd for $350 000. It was agreed that this would be settled by Required: Explain whether Bailey Ltd can offset the financial asset and the financial liability Scottburgh Ltd grants 500 options to each of the 12 members of its executive management team 6,000 options in total) on 1 July 2020. These options vest at the end of a three-year period. Scottburgh Ltd has determined that each option has a fair value at the date of grant equal to $3.00. Required: Provide journal entries at 31 December 2020 assuming that the company expects that four employees will leave before the shares vest. QUESTION 22 Painter Ltd purchased 90 000 shares in Easel Ltd on the 1 July 2020, at a price of $3.50 each. The Broker charged a fee of $7 000 for processing the transaction. On 30 June 2021 the closing market price of the Easel Ltd shares was $5.20. Painter Ltd does not intend to hold the shares for trading and does not make the fair value through other comprehensive income election (FVOCI). Required: Prepare the journal entries for Painter Ltd to account for the initial acquisition of the shares on 1 July 2020, and the subsequent re-measurement at the end of the financial year on 30 June 2021. QUESTION 23 February 2021, and both entities have indicated their intent to settle the amounts on a net basis. Thus, a legal right of set-off between the two companies has been documented in writing. Bailey Ltd purchased equipment to the value of $350 000 from Beam Ltd on credit, settlement of which is due on 15 February 2021. During the financial year. Beam Ltd purchased inventory from Bailey Ltd for $350 000. It was agreed that this would be settled by Required: Explain whether Bailey Ltd can offset the financial asset and the financial liability