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Prepare the journal entries necessary to account for stock

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Problem 1: Hollywood Bakery granted stock options to its CEO on December 31, Year 1. These options, which have a vesting period of 2 years, will allow the CEO to purchase 5,000 shares of $20 par common stock for $45 per share. The options have a fair market value of $30,000, based on an acceptable option valuation model. The CEO exercised the options on January 1, Year 4. Prepare the journal entries necessary to account for the stock options.

Reference no: EM132772814

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