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Question - On January 1, 2019, an entity granted share options to each of its 300 employees working in the sales department. The share options vest at the end of a three year period provided that the employees remain in the entity's employ and provided the volume of sales will increase by an average of 100/ per year. The fair value of each share option on grant date is P20.
If the sales increase by an average of 10%, each employee will receive 200 share options. If the sales increase by an average of 15% per year, each employee will receive 300 share options.
During 2019, the sales increased by 10% and the entity expect this rate of increase to continue in the next two years. During 2020, the sales increased by 20%.
During 2021, the sales increased by an average of 16% over three years. By the end of 2021, 20 employees left the entity.
Required - Prepare journal entries from 2019 to 2021.
On January 1, Whispering Winds Corp. had 62,600 shares of no-par common stock issued and outstanding
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