On January 1, 2023, Wolfgang Ltd. paid $1,000 for the option to buy 5,000 of its common
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On January 1, 2023, Wolfgang Ltd. paid $1,000 for the option to buy 5,000 of its common shares for $25 each. The contract stipulates that it may be settled only by exercising the option and buying the shares. How should this be accounted for in the financial statements of Wolfgang? Assume that Wolfgang complies with IFRS.
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Related Book For 
Intermediate Accounting Volume 2
ISBN: 9781119740445
13th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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