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On January 1, 2021, Oak Company granted stock options to certain key employees as additional compensation. The options were for 100,000 shares of Oak's P2 par value common stock at an option price of P15 per share. Market price of stock on January 1, 2021, was P20 per share. The fair value of each stock option on January 1, 2021 is P8. The options were exercisable beginning January 1, 2021 and expire on December 31, 2022. On April 1, 2021, when Oak's stock was trading at P21 per share, all the options were exercised. Problem 1: What amount of compensation should Oak report in 2021 in connection with the options?
a. 800,000b. 500,000c. 250,000d. 400,000
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On April 1, 2020, UY Corporation purchased 30% of the voting rights in YI Company for P5,000,000. How much is the carrying value of the investment
ACCT1101 - Financial Accounting - University of Western Australia - Complete the Luxe Leather Bags Pty Ltd Accounting Practice Set online on LMS.
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