Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1. 2019. flint corporation granted 10,2

On January 1. 2019. Flint Corporation granted 10,200 options to key...

60.1K

Verified Solution

Question

Accounting

image
On January 1. 2019. Flint Corporation granted 10,200 options to key executives. Each option allows the executive to purchase one share of Flint's $5 par value common stock at a price of $19 per share. The options were exercisable within a 2 -year period beginning January 1,2021, if the grantee is still employed by the company at the time of the exercise. On the grant date. Flint's stock was trading at $25 per share, and a fair value option-pricing model determines total compensation to be $375.000. On May 1, 2021,8,160 options were exercised when the market price of Flint's stock was $30 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 outomotically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter ofor the amounts.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

The data below represent scores from three different therapies used to treat depressive symptoms. Scores represent...

Physics
1.2K views

Question No 7 Single Correct A The moment of inertia of a solid cylinder about...

Physics
1.2K views

Apparent dip at a place is always greater than or equal to the value of...

Geometry
1.2K views

3 Student response use the graph to respond to each question Justify y 21 3x...

Algebra
1.2K views

Question 3 20 points What is the domain and range of the function w x...

Algebra
1.2K views

Find the real solutions to the equation 192 3h6 h Simplify your answer Use a...

Accounting
1.2K views

The president of Cook Company has asked you to close the books (prepare and process...

Accounting
1.2K views

On September 3, 1992, Mr. Lovett buys some equipment from the Excello Company. He signs...

Accounting
1.2K views

Which of the following represents a positive state income tax adjustment? In other words, what...

Accounting
1.2K views

Perez Company incurs annual fixed costs of $54,160. Variable costs for Perez's product are $34.50...

Accounting
1.2K views

a) . Declaration of cash dividends increases liabilities and decreases shareholders equity. b) A correction...

Finance
1.2K views

Considering your risk aversion level, you make investment into a hedge fund or a mutual...