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"On January 1, 2010 Magilla Inc granted stock options to officers and employees for the purchase of 20,000 shares of the company's $10 par common stock at $25 per share. The options were exercisable within a 5-yr period beg. 1/1/2012 by grantees still in company expiring 12/31/2016. The service period for this award is 2 yrs. Assume the value of option-pricing model to determine total compensation of expense to be $400,000
On april 1, 2011 - 3000 options were terminated when the employees resiged from the company. The market value of the common stock was $35 per share on this date.
On March 31, 2012 -- 12,000 options were exerceised when the market value of the common stock was $40 per share.
Prepare journal entries to record issuance of the stock options, termination of stock options, exercise of the stock option and the charges compensation expense for year ending 12/31/2010, 12/31/2011, 12/31/2012"
Compute basic and diluted EPS for the year ended December 31, 2009.
Which of the following is the best theoretical justification for consolidated financial statements?
You are an internal auditor of a small rural bank with 3 branches. The bank's customers are mainly farmers. The bank is a publicly traded corporation (OTC) and qualifies under the Sarbanes-Oxley Act of 2002 (SOX) regarding financial reporting requ..
Prepare the entries to record the issuance of the bonds and the first semiannual interest payment assuming that the company uses effective-interest amortization.
On jan 1 2011 pearce com purchased an 80% interest in the capital stock of searl com for 2460000. at the time searl co had capital stock of 1500000 amd retaines earnings of 300000. Calculate the controlling interest in consolidates net income for 2..
How does the AICPA Code of Professional Conduct relate to ethics? Provide examples to support your response.
Chipco paid $15 million of foreign taxes on its foreign-source manufacturing profits and $2 million of foreign taxes on its foreign- source passive investment income. Assume that the U.S. tax rate is 35%.
Required: Assuming that these two companies retained their separate legal identities, prepare a consolidation worksheet as of December 31, 2009.
Provide the journal entry to record the conversion of the bonds assuming Picard considers the conversion
George pays $10,000 for a 20% interest in a general partnership which has recourse liabilities of $20,000. The partners share the economic risk of loss from recourse liabilities in the same way they share partnership losses. George's basis in his ..
Weaver Company's predetermined overhead rate is $18.00 per direct labor-hourand its direct labor wage rate is $12.00 per hour.
Holyfield Corporation wishes to exchange a machine used in its operations. Holyfield has received the following offers from other companies in the industry.
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