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Stockrights Family Co. holds 1,000 ordinary shares of Lechon Co. as investment. On Sept.30,20x1,LechonCo.issuesstockrightsona1-for-1basis.Thestock rightsareexercisableuntilJune30,20x2.Thefairvaluesperstockrightare P5 and P6 on Sept. 30, 20x1 and Dec. 31,
Stockrights
- Family Co. holds 1,000 ordinary shares of Lechon Co. as investment. On Sept.30,20x1,LechonCo.issuesstockrightsona"1-for-1"basis.Thestock rightsareexercisableuntilJune30,20x2.Thefairvaluesperstockrightare P5 and P6 on Sept. 30, 20x1 and Dec. 31, 20x1, respectively. The stock rights remain outstanding on Dec. 31,20x1.
Requirement: Provide the entries in 20x1
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In this case Family Co holds 1000 ordinary shares of Lechon Co and has received stock rights on a 1for1 basis The fair values of these stock rights ar...
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Fundamental Accounting Principles Volume 1
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
15th Canadian Edition
