On January 1, 2020, Benny Company granted 40,000 stock options to officers permitting the holder to...
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On January 1, 2020, Benny Company granted 40,000 stock options to officers permitting the holder to purchase one share of the company's $10 par common stock within the next 5 five years, but not before December 31, 2022 (the vesting date). The $29 exercise price is equal to the market price at the date of grant. An option pricing model determined the fair value of each option is $6. Prepare the journal entry to record the exercise of 20% of the options on June 30, 2023. On January 1, 2020, Benny Company granted 40,000 stock options to officers permitting the holder to purchase one share of the company's $10 par common stock within the next 5 five years, but not before December 31, 2022 (the vesting date). The $29 exercise price is equal to the market price at the date of grant. An option pricing model determined the fair value of each option is $6. Prepare the journal entry to record the exercise of 20% of the options on June 30, 2023.
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Related Book For
Intermediate Accounting 2014 FASB Update
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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