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Record the journal entry for january

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On January 1, 2020, Holiday Inc. offered a stock option incentive plan to a top executive. The plan provided the executive 300 stock options for Holiday Inc. $1 par value, common stock at an option price of $15 per share through the expiration date of January 1, 2026. The fair value of the options based upon an option-pricing model on january 1, 2020, is $9,000. The market price at year-end of Holiday Inc. stock is $15 per share on January 1, 2020, and $18 on December 31, 2020. The requisite service period is 3 years. The options were exercised on March 1, 2023, when the market price of the stock was $20 per share.

Problem a. Prepare the journal entry on March 1, 2023

Problem b. Now assume the executive left the company on January 1, 2022. Record the journal entry for january 1, 2022, assuming the company's policy is to record forfeitures as incurred.

 

Reference no: EM132803421

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