Rainy Lake Lodge issued 30,000 at-the-money stock options to its management on January 1, 2021. These options
Question:
Rainy Lake Lodge issued 30,000 at-the-money stock options to its management on January 1, 2021. These options vest on January 1, 2024. Rainy Lake’s share price was $12 on the grant date and $18 on the vesting date. Estimates of the fair value of the options showed that they were worth $2 on the grant date and $7 on the vesting date. On the vesting date, management exercised all 30,000 options. Rainy Lake has a December 31 year-end.
Required:
Record all of the journal entries relating to the stock options.
Step by Step Answer:
The record all of the journal entries relating to the stock options include i Investment The fair va...View the full answer
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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