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Prepare all the required journal entries in good form

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Question - Alicante Limited, based in Prince George, is an exciting company which provides destination weddings to Saskatchewan. Alicante Limited takes excellent care of its employees, with generous sick day allotments; above-average salaries; and free family trips to Saskatoon each summer. Recently, the company initiated a stock option plan for employees. Under it, Alicante Limited employees can buy corporate shares for $20 each (the company has put aside 100,000 shares for this). The option premium is $5/share. The average combined federal and provincial tax rate for Alicante Limited employees is 30%.

Date Occurrence

March 14, 2021 20,000 options bought by employees

September 16, 2021 14,000 options exercised by employees

October 14, 2021 10,000 options bought by employees

November 1, 2021 15,000 options bought by employees

Required - Prepare all the required journal entries in good form for the above-listed dates.

Reference no: EM133046268

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