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Weiser Corp. on January 1, 2007, granted stock options for 40,000 shares of its $10 par value common stock to its key employees. The market price of the common stock on that date was $23 per share and the option price was $20. The Black-Scholes option pricing model determines total compensation expense to be $240,000. The options are exercisable beginning January 1, 2010, provided those key employees are still in Weiser's employ at the time the options are exercised. The options expire on January 1, 2011.On January 1, 2010, when the market price of the stock was $29 per share, all 40,000 options were exercised. Instructions:1) What amount of compensation expense should Smiley recognize as a result of this plan for the year ended December 31, 2010 under the fair value method?2) Prepare journal entries relating to the stock option plan for years 2010, 2011, and 2012. Assume that the employee performance services equally in 2010 and 2011.
What would be the appropriate level of involvement of an accountant in evaluating and selecting an AIS vendor and the AIS itself? What are some of the contributions an accountant might offer in this process?
What should be the reported net asset balance of the following categories during 2011: permanent restricted, temporarily restricted, unrestricted.
During the current year JET Industries issued 5 million of its $1 par common shares to its underwriters for $25,000,000 less promotional and accounting services of $500,000 to effect the issue.
The Loebuck grocery sells milk. The grocer orders milk from a local farmer fro $13 per case and sells for $16 per case. Unsold cases are disposed for $1.5 per case, and each case of shortage causes $3.7 loss of profit.
Discuss the nature of preventive controls that may be designed into an AIS. Give an example and explain how it may prevent fraud or abuse of the system.
Discus briefly the activity-based costing (ABC) and explain how ABC can differ from traditional costing approaches? Consider a health care organization with which you are familiar with and it uses ABC model.
Outdoor expo provides guided fishing tours. The company charges $200 per person but offers a 10% for parties of four or more. Consider the following transactions during the month of May.
Why would a publicly traded company prefer to pay a newly acquired company in only stock, in only cash, or decide to use both?
When one media company buys another, goodwill is often the most costly asset acquired. World media paid $700,000 to acquire-Journalize World Media's acquisition of The Dandy Dime.
Describe the history, current status, and adoption implications of a Financial Accounting Standards Board ongoing project.
Cardon's Boat Yard, inc repairs store and cleans boats for customers. It is completing the accounting process for the year just ended November 30, 2912, The transactions during 2012 have been journalized and posted. The following data with respect..
Beige Company has approximately $400,000 in net income in 2008 before deducting any compensation or other payment to its sole owner, Janet (who is single). Assume that Janet is in the 35% marginal tax bracket. Discuss the tax aspects of each of th..
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