THE COCA-COLA COMPANY AND PEPSICO, INC. The financial statements of Coca-Cola and PepsiCo are presented in Appendices C and D, respectively. The companies' complete annual reports, including the notes to the financial statements, are available online. Instructions Use the companies' financial information to answer the following questions. a. What employee stock-option compensation plans are offered by Coca-Cola and PepsiCo? b. How many options are outstanding at year-end 2017 for both Coca-Cola and PepsiCo? c. How many options were granted by Coca-Cola and PepsiCo to officers and employees during 2017?
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- Target Corporation prepares its financial statements according to U. S. GAAP. Target's financial statements and disclosure notes for the year ended February 1, 2020, are available here. This material also is available under the Investor Relations link at the company's website (www.target.com). Target refers to its Shareholders' Equity as Shareholders' Investment. Required: Note 20, "Share Repurchase," provides the information we need to reconstruct the journal entry that summarizes Target's share repurchases in the year ended February 1, 2020. Provide that entry. Record the repurchase of 16. 0 million shares using information from Note 20, "Share Repurchase". Does Target account for share repurchases as (a) treasury stock or (b) retired shares?ABC Ltd pays its employees monthly in arrears. The monthly salaries are $236,820. At the end of the 2020, all salaries had been paid except half of the December 2020 salary. Required: Show entries for the year ended 31stDecember 2020: To record the outstanding December salary. As they would appear in the Statement of Profit and Loss. As they would appear in the Statement of Financial Position.Subject : Accounting Larry started working for Burgers, Inc. on June 1, 2020. At the end of 2020, Larry received 100 Burgers, Inc. stock options as part of his compensation. Each option allowed him to purchase one share of Burgers, Inc. for $20.00. Shares of Burgers, Inc. traded at $25.00 per share on December 31, 2020. An independent valuation firm valued each option at $5.00 as of that date. Larry did not make a § 83(b) election. Larry exercised all his options on September 15, 2022. On that date, stock of Burgers, Inc. traded for 37.00 per share on the open market. Determine: The amount of income Larry must recognize in 2020, upon receiving the options. The amount of income Larry must recognize in 2022, upon exercising the options. Larry’s basis in the Bergers, Inc. stock he purchased through exercising the options.
- Gray Company lists the following shareholders equity items on its December 31, 2018, balance sheet: The following stock transactions occurred during 2019: Required: 1. Prepare journal entries to record the preceding transactions. 2. Prepare the December 31, 2019, shareholders equity section (assume that 2019 net income was 225,000).Microsoft provides compensation to executives in the form of a variety of incentive compensation plans, including restricted sto award grants. The following is an excerpt from a disclosure note from Microsoft's 2020 annual report: Note 18 Employee Stock and Savings Plans (in part) Stock awards entitle the holder to receive shares of Microsoft common stock as the award vests. Stock awards generally vest o five-year period.... During fiscal year 2020, the following activity occurred under our plans: Stock awards: Nonvested balance, beginning of year Granted Vested Forfeited Nonvested balance, end of year Required: Shares (in millions) 147 53 Weighted Average Grant-Date Fair Value $ 78.49 140.49 75.35 (65) (9) 126 90.30 $ 105.23 If all awards are granted, acquired, vested, and forfeited evenly throughout the year, what is the compensation expense in fiscal pertaining to the previous and current stock awards? Assume forfeited shares were granted evenly throughout the three previou years.…Jablonski Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2017, the following balances related to this plan. Check the below image for more details for this problem. Instructions(a) Compute pension expense for Jablonski Corp. for the year 2017 by preparing a pension worksheet that shows the journal entry for pension expense.(b) Indicate the pension amounts reported in the financial statements.
- Some years ago, Junior Ltd established a defined benefit pension plan for its employees. The company has since introduced a defined contribution plan, which all new staff join when commencing employment with Junior Ltd. Although the defined benefit plan is now closed to new recruits, the fund continues to provide for employees who have been with the company for a long time. The following actuarial report has been received for the defined benefit plan: 2018/$ Present value of the defined benefit obligation 31 December 2017 20,000,000 Past service cost 2,000,000 Net interest ? Current service cost 800,000 Benefits paid 2,100,000 Actuarial loss on DBO 100,000 Present value of the defined benefit obligation 31 December 2018 23,000,000 Fair value of plan assets at 31 December 2017 19,000,000 Return on plan assets ? Contributions paid to the plan during the year 1,000,000 Benefits paid by the plan during the year Fair value of plan assets at 31 December 2018…Daisy Laboratories has a defined benefit retirement plan. The company's annual financial statements include the following excerpt about these plans (in millions). Plans' assets at fair value, January 1, 2016 Actual return on plan assets Company contributions Benefits paid Other, including foreign currency translation Plan assets at fair value, December 31, 2016 $5,418 505 466 (194) (161) $6,034 What was the pension-related cash flow for the company during the year?On January 1, 2010 Canes.com hired a new CEO and established a defined benefit pension plan for the CEO. Under the terms of the Plan, the CEO will receive annual pension payments beginning on the CEO’s retirement date for the rest of the CEO’s life. The annual pension payments will be calculated using the following formula: [years of employment] x [2%] x [highest yearly compensation between January 1, 2010 and retirement date]. The Company assumes the CEO will retire on December 31, 2016; the CEO will receive 25 annual payments starting on the retirement date; the CEO’s highest yearly compensation will be $500,000. The Company assumes an interest rate of 5%. The Company contributes $120,000 to the Plan in 2010 and $100,000 to the Plan in 2011. The Plan assets increase in value by $45,000 in 2010 and increase in value by $50,000 in 2011. What will the company report as Pension expense for the year ended December 31, 2011? a. $121,473 b. $71,473 c. $231,902…
- On January 1, 2021, when a company's shares were selling in the market for $ 50 per share, the company granted 100,000 restricted shares to various executives. The restriction would be lifted on December 31, 2025. At the beginning of 2024, 10% of executives resigned from the company. REQUIRED: 1. Prepare the wage entries for the dates of January 1, 2021 and December 31, 2023. 2. Prepare the wage entries for December 31, 2024 and 2025.(Pension Expense, Journal Entries for 2 Years) Gordon Company sponsors a defined benefit pension plan. The following information related to the pension plan is available for 2017 and 2018. Check the below image for pension plan. Instructions(a) Compute pension expense for 2017 and 2018.(b) Prepare the journal entries to record the pension expense and the company’s funding of the pension plan for both years.SSG Cycles manufactures and distributes motorcycle parts and supplies. Employees are offered a variety of sharebased compensation plans. Under its nonqualified stock option plan, SSG granted options to key officers onJanuary 1, 2018. The options permit holders to acquire 12 million of the company’s $1 par common shares for$11 within the next six years, but not before January 1, 2021 (the vesting date). The market price of the shareson the date of grant is $13 per share. The fair value of the 12 million options, estimated by an appropriate optionpricing model, is $3 per option.Required:1. Determine the total compensation cost pertaining to the incentive stock option plan.2. Prepare the appropriate journal entries to record compensation expense on December 31, 2018, 2019, and 2020.3. Record the exercise of the options if all of the options are exercised on May 11, 2022, when the market priceis $14 per share.