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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
How has automation aided the preparation, accuracy, and use of the financial statement worksheet and completion of the financial statements? What automation tool has been most useful to you?
Martin Company sells a certain product for $15 per unit. The beginning inventory is 40,000 units, and the desired ending inventory is 32,000 units. If budgeted production is 100,000 units, what is the forecasted sales revenue from the product?
Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees earned wages totaling $100,000 but that employee income taxes totaling $14,000 and FICA taxes ..
What are the advantages of the four different special journals? When would you use each type? What is a subsidiary ledger and what purpose does it serve?
Determine the amount of cash received and prepare the journal entries for (a) the Jan. 1 issuance and (b) the Dec. 31 recognition of interest.
What is the essential procedural difference between work paper eliminating entries for unrealized intercompany profit when the selling affiliate is a less than wholly owned subsidiary and such entries when the selling affiliate is a parent company..
Cairo corporation has municipal bonds classified as available for sale at December 31, 2012. These bonds have a par value of $800,000, an amortized cost of $800,000, and a fair value of $740,000.
Blue Corporation, a cash basis taxpayer, has taxable income of $700,000 for the current year. Blue elected $80,000 of § 179 expense. It also had a related party loss of $30,000 and a realized (not recognized) gain from an involuntary conversion of..
(a) Prepare a 2010 retained earnings statement for McEntire Corporation. (Enter all amounts as positive amounts and subtract where necessary.)
Create a formula to calculate your rate of return for each year. What is your overall return over the life of your investment? What is the average annual return over the life of the investment? Use the geomean function.
Would a traditional income statement differ depending on whether the business is a service organization, merchandiser, or manufacturer?
Analyze how consolidations and business combination promulgations affect off-balance sheet manipulations. Include research on the development of consolidations and business combination promulgations.
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