EBK HORNGREN'S ACCOUNTING
12th Edition
ISBN: 9780134487212
Author: MILLER-NOBLES
Publisher: PEARSON CO
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General accounting
On January 1, Year 6, Howard, Inc., granted to a key executive a fixed compensatory share option plan for 1,000 shares of $4 par common stock for $30 a share. The fair value per option on that date was $14. The service period extended through December 31, Year 7. What entry, if any, was required on December 31, Year 6?
a. Compensation Expense 7,000Paid-in Capital from Share Options 7,000
b. no entry necessary
c. Compensation Expense 6,000Paid-in Capital Share Options 6,000
d. Compensation Expense 9,000Deferred Compensation 9,000
Could you explain the steps for solving this general accounting question accurately?
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- If the liabilities of Redwood Enterprises increased $75,000 during a period of time and the owner's equity in the business decreased $30,000 during the same period, the assets of the business must have__. 1. Decreased $105,000 2. Increased $45,000 3. Increased $105,000 4. Decreased $45,000 answerarrow_forwardMelford Industries sells a product to a wholesaler for $52. The wholesaler applies a 30% markup based on selling price when selling to a retailer. The retailer then applies a 40% markup based on selling price to determine the final price to the consumer. What is the final selling price to the consumer? Answerarrow_forwardI need help finding the accurate solution to this financial accounting problem with valid methods.arrow_forward
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