On January 1, 2022, Barwood Ltd. granted 5,000 options to executives. Each option entitles the holder to
Question:
On January 1, 2022, Barwood Ltd. granted 5,000 options to executives. Each option entitles the holder to purchase one share of Barwood’s £5 par value ordinary shares at £50 per share at any time during the next 5 years. The market price of the shares 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, 2022, and December 31, 2022 and 2023.
Step by Step Answer:
January 1 2022 Dr Equity Compensation Expense 150000 Cr ...View the full answer
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Related Video
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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