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EastCo has the following common shares on its balance sheet at December 31, 2016, the company's year-end:
Common shares, no par, unlimited authorized, 186,000 issued and outstanding$4,365,000
Problem a) Record the journal entry for the granting of the options
Problem b) Record the first year compensation expense
Problem c) Record the exercising of the options. Problem d) Record the forfeit of the options
Problem e) Record the lapsing of the options.
Larry, single, age 31, had the following items for 2014: Compute Larrys' taxable income for the year 2014.
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Iidentified an impairment with regard to the equipment and the equipment is accordingly stated at recoverable amount.
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