Johnstown Company granted 1 0 officers rights to buy 1 0 , 0 0 0 shares each
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Question:
Johnstown Company granted officers rights to buy shares each of common stock $ par, at $ per share on May the grant date. The stock was selling for $ per share at the time. The rights cannot be exercised until the beginning of and expire at the end of Compensation expense is $ covering a one year period of
Record the following:
DrCrMay the grant date, issue of the rights.
Dec. compensation expense Jul. of the rights were exercised, as the stock climbed to $ per share.
Dec. of the rights expired because one officer left the company.
On December of the rights expired because one officer decided not to exercise the right.
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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