Make the necessary entries

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Question - On January 1, 2020, Gordon granted 2,000 stock options to company executives. Each option permits the holder to purchase 1 share of Gordon Corporation stock for $20 per share after December 31, 2023. The options expire on December 31, 2027. The average market price for Gordon Corporation's stock was $32 per share in 2021.  The value of each option, using an appropriate options pricing model, is $11 per share. Assume the options were correctly accounted for in 2020. Make the necessary entries for 2021.

Reference no: EM133171260

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