Using the information from BE19-12, now assume that Siry Company only offers the plan to top executives.

Question:

Using the information from BE19-12, now assume that Siry Company only offers the plan to top executives. What journal entry will the company make on the date the employees purchase the shares?
In BE19-12
Siry Company offers all its employees the opportunity to purchase its $ 2 at a 5% discount. The employees have three weeks to elect to participate in the plan. The current market price of the stock is $ 80 per share. Employees purchased a total of 200,000 shares. What journal entry will the company make on the date the employees purchase the shares? Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...