On January 1, 2019, Larkspur Corporation granted 11.000 options to key executives. Each option allows the...

  

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On January 1, 2019, Larkspur Corporation granted 11.000 options to key executives. Each option allows the executive to purchase one share of Larkspur's $5 par value common stock at a price of $21 per share. The options were exercisable within a 2year period beginning January 1,2021, if the grantee is still employed by the company at the time of the exercise. On the grant date, Larkspurs stock was trading at $26 per share, and a fair value option-pricing del determines total compensation to be $429.000. On May 1, 2021, B800 options were exercised when the market price of Larkapur's stock was $29 per share. The remaining options lapsed in 2023 because executives decided not to exercise their options Prepare the necessary journal entries related to the stock option plan for the years 2019 through 2023, (Credit account titles are automatically indented when amount is entered. Do not indent monusty. no entry is reguired, select "No Entry for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit 1.2019 No Entry No Entry 214S00 312019 Compensation Expee 214500 Paidin CapitalSock Oot 310 Compemation Dgen 21400 P Cta Opt Ceh 31.2020 Compensation Expense 214500 Paid-in Capital-Stock Options 214500 y1.2021 Cash 184800 Paid-in Capitail-Stock Opticns 300800 Common Stock 44000 Paidin Capital in Eces of Pa Common itock 441600 .2023 Paid-in Capital Stock Option 128200 200 Paid-in Capital Expired ock Optin eTextbook and Media List of Accounts Attempts: 1 of S used St Ar Last saved 23 minutes ago On January 1, 2019, Larkspur Corporation granted 11.000 options to key executives. Each option allows the executive to purchase one share of Larkspur's $5 par value common stock at a price of $21 per share. The options were exercisable within a 2year period beginning January 1,2021, if the grantee is still employed by the company at the time of the exercise. On the grant date, Larkspurs stock was trading at $26 per share, and a fair value option-pricing del determines total compensation to be $429.000. On May 1, 2021, B800 options were exercised when the market price of Larkapur's stock was $29 per share. The remaining options lapsed in 2023 because executives decided not to exercise their options Prepare the necessary journal entries related to the stock option plan for the years 2019 through 2023, (Credit account titles are automatically indented when amount is entered. Do not indent monusty. no entry is reguired, select "No Entry for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit 1.2019 No Entry No Entry 214S00 312019 Compensation Expee 214500 Paidin CapitalSock Oot 310 Compemation Dgen 21400 P Cta Opt Ceh 31.2020 Compensation Expense 214500 Paid-in Capital-Stock Options 214500 y1.2021 Cash 184800 Paid-in Capitail-Stock Opticns 300800 Common Stock 44000 Paidin Capital in Eces of Pa Common itock 441600 .2023 Paid-in Capital Stock Option 128200 200 Paid-in Capital Expired ock Optin eTextbook and Media List of Accounts Attempts: 1 of S used St Ar Last saved 23 minutes ago

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Journal Entries Date Particulars Debit Credit Jan 12019 ... View the full answer