Question
The following options were exercised: DATE SHARES MARKET PRICE (Per Share) TAX DEDUCTION April 1, 2022 5,000 $47 $ 45,000 August 31, 2022 10,000 $43
The following options were exercised:
DATE SHARES MARKET PRICE (Per Share) TAX DEDUCTION
April 1, 2022 5,000 $47 $ 45,000
August 31, 2022 10,000 $43 $ 50,000
January 15, 2023 20,000 $39 $ 20,000
May 18, 2023 15,000 $44 $ 90,000
February 20, 2024 10,000 $43 $ 50,000
December 12, 2024 15,000 $48 $150,000
Required:
Prepare the appropriate journal entries for each year 2022 through 2024 associated with these options assuming the existing and future tax rate is 21% for all years.
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Auditing The Art And Science Of Assurance Engagements
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser-Hogeterp
11th Edition
0132088061, 978-0132088060
