Current Attempt in Progress On January 1, 2020, Headland Corporation granted 5,400 options to executives. Each option entitles the holder to purchase one share of Headland's $5 par value common stock at $50 per share at any time during the next 5 years. The market price of the stock is $63 per share on the date of grant. The fair value of the options at the grant date is $152,000. The period of benefit is 2 years. Prepare Headland's journal entries for January 1, 2020, and December 31, 2020 and 2021. (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 O for the amounts.) Date Account Titles and Explanation Debit Credit
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- On January 1, 2020, Crane Corporation granted 5,200 options to executives. Each option entitles the holder to purchase one share of Crane's $5 par value common stock at $50 per share at any time during the next 5 years. The market price of the stock is $66 per share on the date of grant. The fair value of the options at the grant date is $136,000. The period of benefit is 2 years. Prepare Crane's journal entries for January 1, 2020, and December 31, 2020 and 2021. (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.)On January 1, 2020, Sandhill Corporation granted 4,700 options to executives. Each option entitles the holder to purchase one share of Sandhill's $5 par value common stock at $50 per share at any time during the next 5 years. The market price of the stock is $63 per share on the date of grant. The fair value of the options at the grant date is $142,000. The period of benefit is 2 years. Prepare Sandhill's journal entries for January 1, 2020, and December 31, 2020 and 2021. (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 O for the amounts.) Date Account Titles and Explanation Debit Credit >On January 1, 2020, Barwood Corporation granted 5,000 options to executives. Each option entitles the holder to purchase one share of Barwood's $5 par value common stock at $50 per share at any time during the next 5 years. The market price of the stock is $65 per share on the date of grant. The fair value of the options at the grant date is $150,000. The period of benefit is 2 years. Prepare Barwood's journal entries for January 1, 2020, and December 31, 2020 and 2021. Repeat the requirements assuming that instead of options, Barwood granted 2,000 shares of restricted stock.
- On January 1, 2020, Barwood Corporation granted 5,000 options to executives. Each option entitles the holder to purchase one share of Barwood's $5 par value common stock at $50 per share at any time during the next 5 years. The market price of the stock is $65 per share on the date of grant. The fair value of the options at the grant date is $150,000. The period of benefit is 2 years. Prepare Barwood's journal entries for January 1, 2020, and December 31, 2020 and 2021.On January 1, 2020, XYZ Co. granted options to key executives to purchase 100,000 shares of the company's $10 par value Common Stock at an option price of $50 per share. The Black-Scholes option pricing model determines total compensation expense to be $750,000. The options become exercisable after a 2 year service period from the date of grant. Assume all options were exercised in 2022 on the following dates: April 16, 2022– 70,000 options were exercised when the market value per share was $63 September 4, 2022 – 30,000 options were exercised when the market value per share was $72 Prepare a journal entry for: a) January 1, 2020 b) December 31, 2020 c) December 31, 2021 d) April 16th, 2022 e) September 4, 2022Corinthians granted 5,000 share options to employees at an exercise price of P5 per share. The grant date is January 1, 2021 and the options are subject to a two –year vesting period. The grant date fair value of each option was P40. At December 31, 2021, Corinthians Company modified the grant by extending the vesting period to June 30, 2023. Management expects that the number of options outstanding as of December 31, 2022, the original vesting date, would be 4,500. The actual number of options outstanding at December 31, 2022 was 4,200 of which only 4,000 vested on June 30, 2023. Compensation expense for 2021 – 2023
- Subject: accounting On January 1, 2019, QRS Company granted 80,000 stock options to certain executives. The option vesting period is 4 years ending on December 31, 2022. Each option can be exercised to acquire one share of $1 par common stock for $5. The fair value of each option was estimated to be $3 on the grant date. What amount should QRS recognize as compensation expense for 2020?LCI Cable Company grants 1 million performance stock options to key executives at January 1, 2018. Theoptions entitle executives to receive 1 million of LCI $1 par common shares, subject to the achievement ofspecific financial goals over the next four years. Attainment of these goals is considered probable initially andthroughout the service period. The options have a current fair value of $12 per option.Required:1. Prepare the appropriate entry when the options are awarded on January 1, 2018.2. Prepare the appropriate entries on December 31 of each year 2018–2021.3. Suppose at the beginning of 2020, LCI decided it is not probable that the performance objectives will be met.Prepare the appropriate entries on December 31 of 2020 and 2021.Fortune Brands granted options on January 1, 2024, that allows the recipient to purchase 15.0 million of the company's $1 par common shares within the next eight years, but not before December 31, 2026 (the vesting date). The exercise price is the market price of the shares on the date of grant, $17 per share. The fair value of the options, estimated by an appropriate option pricing model, is $4 per option. No forfeitures are anticipated. Ignoring taxes, what is the effect on earnings in the year after the options are granted to executives? Note: Round your answer to 1 decimal place. Multiple Choice O $60.0 million $90.0 million $0 $20.0 million
- On January 1, 2019, Nevada Company granted share options to each of the 300 employees working in the sales department. The share options vest at the end of a 3-year period provided that the employees remain the entity’s employ and provided the volume of sales will increase by more than 10% per year. The fair value of each share option on grant date is P30. The par value per share is P50 and the option price is P60.If the sales increase by more than 10%, each employee will receive 200 share options. If the sales increase by more than 15%, each employee will receive 300 share options. On December 31, 2019, the sales increased by more than 10% but not more than 15% and no employees have left the entity. On December 31, 2020, sales increased by more than 15% and no employees have left. On December 31, 2021, the sales increased by more than 15% and 50 employees left the entity. All of the share options were exercised on December 31, 2021. What amount should be recognized as compensation…LCI Cable Company grants 1 million performance stock options to key executives at January 1, 2021. The options entitle executives to receive 1 million of LCI $1 par common shares, subject to the achievement of specific financial goals over the next four years. Attainment of these goals is considered probable initially and throughout the service period. The options have a current fair value of $12 per option.Required:1. Prepare the appropriate entry when the options are awarded on January 1, 2021.2. Prepare the appropriate entries on December 31 of each year 2021–2024.3. Suppose at the beginning of 2023, LCI decided it is not probable that the performance objectives will be met. Prepare the appropriate entries on December 31 of 2023 and 2024.On January 1, 2019, Nevada Company granted share options to each of the 300 employees working in the sales department. The share options vest at the end of a 3-year period provided that the employees remain the entity’s employ and provided the volume of sales will increase by more than 10% per year. The fair value of each share option on grant date is P30. The par value per share is P50 and the option price is P60.If the sales increase by more than 10%, each employee will receive 200 share options. If the sales increase by more than 15%, each employee will receive 300 share options. On December 31, 2019, the sales increased by more than 10% but not more than 15% and no employees have left the entity. On December 31, 2020, sales increased by more than 15% and no employees have left. On December 31, 2021, the sales increased by more than 15% and 50 employees left the entity. All of the share options were exercised on December 31, 2021. What amount should be recognized as compensation…