On-the-Fly Limousine Services granted 5,000 options to acquire 5,000 shares of its $ 1 par value common

Question:

On-the-Fly Limousine Services granted 5,000 options to acquire 5,000 shares of its $ 1 common stock. At the grant date, the fair value of the options is $ 100,000 and the exercise price per option is $ 8 each. Assuming that employees exercise all the options at the end of the service period, prepare the journal entry necessary to record the exercise of the options. 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,...