On August 1, 2020, Cullumber Ltd. purchased a call option from DDR Investments Corporation. The option gave Cullumber the right to buy 16,000 shares in a third company, MGL Ltd., at a price of $22.75 per share. On the day Cullumber purchased the option, MGL shares were trading at $22.75 each. Cullumber paid $700 for the options. On August 31, 2020, the MGL shares were trading at $24.25 each, and the options for MGL shares were trading at $24,400. On September 15, Cullumber settled the options in cash when the MGL shares were trading at $26.00, and the options were trading at $52,000. Prepare the journal entries to record the above transactions

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Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.