FASB codification research • LO19–2 The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles. Required: 1. Obtain the relevant authoritative literature on stock compensation using the FASB Accounting Standards Codification at the FASB website ( www.fasb.org ). What is the specific citation that describes the information that companies must disclose about the exercise prices for their stock option plans? 2. List the disclosure requirements.
FASB codification research • LO19–2 The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles. Required: 1. Obtain the relevant authoritative literature on stock compensation using the FASB Accounting Standards Codification at the FASB website ( www.fasb.org ). What is the specific citation that describes the information that companies must disclose about the exercise prices for their stock option plans? 2. List the disclosure requirements.
Solution Summary: The author explains that the Financial Accounting Standards Board (FASB) creates, develops and approves accounting standards and administers GAAP.
The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted
accounting principles.
Required:
1. Obtain the relevant authoritative literature on stock compensation using the FASB Accounting Standards Codification at the FASB website (www.fasb.org). What is the specific citation that describes the information that companies must disclose about the exercise prices for their stock option plans?
128361
MENTS
was extracted by
as at 30 June 2018.
als to agree.
30 June 2018
Dr
with each other.
Trial Balance as at 31 December 2017
32.7X D. Fearon extracted the following trial balance
from his books. He could not get the totals to agree
Dr
Cr
Cr
$
$
$
$
87,050
Capital
25,621
62,400
Drawings
13,690
110°
305 410
Sales
94,630
Multiple
Each multipl
answers: (A)
question and
(B), (C) or (D
piece of pape
of questions
written atter
When you
your answer
3,168
Purchases
258
60,375
61 A debit
595
Returns inwards and outwards
1,210 1,109
10,000-35
Wages and salaries
2,000 14,371
12,490
Sundry expenses
чут
-598
8,120 5,045
Inventory 1.1.2017
8,792
168
account
(A) we
(B) we
(C) we h
that
6,790+85
Accounts receivable and accounts 16811,370
4,290
(D) we
payable
4,520
Loan from J. Chandler
2000
62 Inventor
5,000
17,017
Equipment
16,000
period is
1,134
Bank 1500
(A) carri
5,790
109,522 109,522
Suspense
(B) carri
1,546
(C) tran
132,196 132,196
nd:
by $350.
ercast by $100.
50, have been entered in
n…
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