Prepare the appropriate entry when the options are awarded

Assignment Help Accounting Basics

Reference no: EM13591167

LCI Cable Company grants 1.4 million performance stock options to key executives at January 1, 2013. The options entitle executives to receive 1.4 million of LCI $1 par common shares, subject to the achievement of specific financial goals over the next four years. Attainment of these goals is considered probable initially and throughout the service period. The options have a current fair value of $10 per option.

1. Prepare the appropriate entry when the options are awarded on January 1, 2013. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Enter your answers in millions .

2. Prepare the appropriate entries on December 31 of each year 2013?2016. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place.

3. Suppose at the beginning of 2015, LCI decided it is not probable that the performance objectives will be met. Prepare the appropriate entries on December 31 of 2015 and 2016. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Enter your answers in millions .

Reference no: EM13591167

Questions Cloud

Sue the corporate controller has thus far been impressed : sue the corporate controller has thus far been impressed with your performance at the charlotte plant. she thinks it is

Find all solutions of the equation z2 3 4i 0 by setting z : a find all solutions of the equation z2 3 4i 0 by setting z a bi for some real numbers a and b.b solve z2 z 1 i

In a research note on the ordinary shares of the milan : in a research note on the ordinary shares of the milan fashion group dated early july 2007 when a recent price was

Discuss how understanding a companys business the first : discuss how understanding a companys business the first step in equity valuation might be useful in performing a

Prepare the appropriate entry when the options are awarded : lci cable company grants 1.4 million performance stock options to key executives at january 1 2013. the options entitle

The jung corporations budget calls for the following : the jung corporations budget calls for the following productionquarter 1 45000 unitsquarter 2 38000 unitsquarter 3

The diameter of a car tire is 40cm and the diameter of a : the diameter of a car tire is 40cm and the diameter of a toy car tire is 18mm. find the ratio of the diameter of the

Balance sheet assume that the operating cycle is shorter : the following items represent liabilities on a firms balance sheeta. an amount of money owed to a supplier based on the

Arrow industries employs a standard cost system in which : arrow industries employs a standard cost system in which direct materials inventory is carried at standard cost. arrow

User Account

All Pages