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Prepare the december journal entry for first two years

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On January 1, 2018, Richard Corp. granted 4800 options to its officers. Each option entitles the holder to purchase one share of Richards $5 par value of common stock at $30 per share anytime for next 5 years. The market price of stock is $48 per share on date of grant. The fair value of option n date of grant is $184000. The period of benefit is 2 years.

a) Prepare the December journal entry for first two years.

b) Prepare journal entry when all options are exercised for 5 year limit.

Reference no: EM132429703

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