Reference no: EM133103212
Question - On Jan. 1, 2018, JORGE COMPANY granted 20 stock options to each of the 1,000 employees. Each grant is conditional upon the employee remaining in service for three (3) years. The fair value of the stock option on the date of grant is P120.
On Dec. 31, 2018, 40 employees left the entity and 70 more are expected to leave by the end of the vesting period. On Jan. 1, 2019, the company re-priced the stock options by lowering the exercise price. As a result, the fair value of the stock options increased by P40. The modification did not change the vesting period.
On Dec. 31, 2019, 45 employees left the company and another 60 are expected to leave by the end of the vesting period. On Dec. 31, 2020, 25 employees actually left the company.
Required -
1. Compute compensation expenses for 2018, 2019, and 2020.
2. Prepare journal entries to recognize the compensation expense over the vesting period.
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