Assume that the entity follows ASPE and has decided not to include an estimate of forfeitures upon initial recognition of the compensation expense. Record the journal entry on January 1, 2028, the exercise date. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date January 1, 2028 Account Titles and Explanation Cash Debit 81120 Credit Common Shares Contributed Surplus - Stock Options 60320 20800

Assume that the entity follows ASPE and has decided not to include an estimate of forfeitures upon initial recognition of the compensation expense. Record the journal entry on January 1, 2028, the exercise date. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date January 1, 2028 Account Titles and Explanation Cash Debit 81120 Credit Common Shares Contributed Surplus - Stock Options 60320 20800

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter3: Review Of A Company's Accounting System

Section: Chapter Questions

Problem 10RE: Use the information in RE3-6, (a) assuming Ringo Company makes reversing entries, prepare the...

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