Prepare the necessary journal entries related to the stock

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Question - On May 1, 2019, 12,000 options were exercised when the market price of Bugaboo's shares was $34 per share. The remaining options lapsed in 2020 because executives decided not to exercise their options. Management was indeed correct in their assumption regarding forfeitures in that all executives remained with the company. Assume that Bugaboo follows IFRS.

Required - Prepare the necessary journal entries related to the stock option plan for the years ended December 31, 2017 through 2020.

Reference no: EM132528154

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