Answered step by step
Verified Expert Solution
Question
1 Approved Answer
should be good now On November 1, 2020 Oro Cineteda stock option in the granted option to you of the company at Mack. The options
should be good now
On November 1, 2020 Oro Cineteda stock option in the granted option to you of the company at Mack. The options were randon Juary 2 2021 and werden where date of antither way of the com The option years from the notion $30 and the fall option originede demines the total compone5576000 All of the option during the year 2000 25.600 on laruary when the married 13.00 on May 1 Prepare journaleries relating to the stock option plan for the year 2021 2022 2023 Anette de beton Services in 2022 and 2003 Credit countertomolyadent whom Dometre my riddled Not for the count and enter for the amount and intermitentes 1.2007 were 5125) Date Debat Credit Account Titles and Explanation Morty 2.2001 Neste Dec Pald Glocken De Corporation Expert Milo Calendario can in ortal Option PwC M 2003 Ch Plus Warrante Pula On November 1, 2020, Oriole Company adopted a stock-option plan that granted options to key executives to purchase 38,400 shares of the company's $9 par value common stock. The options were granted on January 2, 2021, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $30, and the fair value option-pricing model determines the total compensation expense to be $576,000. All of the options were exercised during the year 2023: 25,600 on January 3 when the market price was $64, and 12,800 on May 1 when the market price was $75 a share. Prepare journal entries relating to the stock option plan for the years 2021 2022 and 2023. Assume that the employee performs services equally in 2022 and 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round intermediate calculations to 5 decimal places, es. 1.24687 and final answers to O decimal places, s. 5,125.) Date Account Titles and Explanation Debit Credit Jan 2, 2021 No Entry No Entry Dec 31, 2021 Compensation Expense Paid in Capital Stock Options Dec 31 2022 Compensation Expense Paid in Capital-Stock Options Jan 3, 2023 + Cash Paid in Capital-Stock Options Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started