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Prepare jornal entry for concord property management inc

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Reference no: EM132460627

On January 1, 2018, Concord Property Management Inc. introduced a stock-based compensation plan for its senior executives. The company has a December 31, 2018 year-end and the following events occurred:

1. January 1, 2018 - The company issued 345,000 options to senior management executives for the purchase of shares at $9 / share. The fair value of the options using an options pricing model is $2,415,000. Options vest over a three-year period and it is estimated that 90% of the options will vest. At the end of 2021, any unexercised options will expire.

2. December 31, 2018 - Management now estimates that 85% of the options will vest.

3. December 31, 2019 - Management now estimates that 80% of the options will vest.

4. January 1, 2021 - 115,000 options are exercised when the market price is $14 / share.

Question 1: Record the journal entries associated with the above transactions including any necessary entry at December 31, 202

Reference no: EM132460627

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