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21. Drie Company granted 126,000 stock options to employees on…

January 26, 2024

21. Drie Company granted 126,000 stock options to employees on 12/31/2021 as compensation over the next 3 years. The options had a strike price of $41 per share and market prices of $49 on 12/31/2022 and 547 on 12/31/2023

If they originally estimated the original fair value to be $1,260,000, how much compensation expense should they recognize on 12/31/2023, assuming that the options can only be used to purchase stock?

A. $756,000

B. $1,008,000

C. $252,000

D. $420,000

22. At December 31, 2023, EST Corp. had 2,052,000 shares of common stodk issued and outstanding, 513,000 of which had been issued and outstanding throughout the year and 1,539,000 of which were issued on October 1. Net income for the year was $3,780,000. What should be Hancock’s 2023 eamings per common share?

A. $4.21

B. $1.84

C. $7.37

D. $2.27

23. On September 1, 2023, right after an interest payment, $4,511.000 of P&S, Inc’s outstanding bonds were converted into 677,000 shares of PBS, Inc$ 52 par value common stock. At the time of the conversion, the common stock had a market value of $3 and the bond had an unamortized discount of $113.000. Based on this information, what will be the change in PS.S, Inc.’s additional paid in capital common stock account due to the conversion?

A. $3,044,000

B. $2,231,600

C. $3,270,000

D. $3,157,000

24. On 1/1/2021, Plougshare granted 109,000 options to their engineering team that allows them to receive cash for the intrinsic value of the options. The options will vest after three years. The fair value of the options was $215 on 12/31/2021, $2.47 on 12/31/2022, and $3.21 on 12/31/2023. What will be the balance in the SARS Liability for these options as of 12/31/2023?

A. $78,117

B. $179,487

C. $349,890

D. $170,403

25. On 1/1/2021, Kakapo Co. granted 620,000 options to their engineering team that allows them to receive cash for the intrinsic value of the options. The options will vest after three years. The fair value of the options was $22.70 on 12/31/2021, $56.75 on 12/31/2022, and $130.53 on 12/31/2023. What will be the amount of the adjustment to Compensation Expense for these options on 12/31/2023?

A. $80,928,600

B. $23,456,667

C. $57,471,933

D. $4,691,333

company, Drie, employees, Financial Accounting, granted, on.., options.., stock

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