Tully Pickwick Company awarded 2,000 options to acquire 2,000 shares of its common stock. The options have a fair value of $11 each. The market price and the exercise price were both equal to $4 per share on the date of the grant. Prepare the journal entry to record the options on the date of the grant. (Record debits first, then credits. Exclude explanations from any journal entries. If no entry is required select "No Entry Required" on the first line of the journal entry table and leave all remaining fields in the table blank.) Account Grant Date

Tully Pickwick Company awarded 2,000 options to acquire 2,000 shares of its common stock. The options have a fair value of $11 each. The market price and the exercise price were both equal to $4 per share on the date of the grant. Prepare the journal entry to record the options on the date of the grant. (Record debits first, then credits. Exclude explanations from any journal entries. If no entry is required select "No Entry Required" on the first line of the journal entry table and leave all remaining fields in the table blank.) Account Grant Date

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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