After giving effect to the stock options, Drennen’s net worth at December 31, 20X6, would be

Doug Graves Cemetery had 69,000 shares of common stock issued and outstanding at January 1, 2021. During 2021, Graves took the following actions:  June   1   Declared a 2-for-1 stock split, when the fair value of the stock was $44 per share. October   15   Declared a $0.50 per share cash dividend. In Graves's statement of shareholders' equity for 2021, what amount should Graves report as dividends?

On April 2 a corporation purchased for cash 7,000 shares of its own $12 par common stock at $27 per share. It sold 4,000 of the treasury shares at $30 per share on June 10. The remaining 3,000 shares were sold on November 10 for $23 per share. a.  Journalize the entries for the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank. Apr. 2   - Select - - Select -     - Select - - Select -   b.  Journalize the entries for the sale of the stock. If an amount box does not require an entry, leave it blank. June 10   - Select - - Select -     - Select - - Select -     - Select - - Select - Nov. 10   - Select - - Select -     - Select - - Select -     - Select - - Select -

On April 2 a corporation purchased for cash 6,000 shares of its own $12 par common stock at $27 a share. It sold 4,000 of the treasury shares at $30 a share on June 10. The remaining 2,000 shares were sold on November 10 for $23 a share.   a. Journalize the entries to record the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank Apr. 2   Treasury Stock Treasury Stock     Cash Cash   Question Content Area b. Journalize the entries to record the sale of the stock. If an amount box does not require an entry, leave it blank. Jun. 10   - Select - - Select -     - Select - - Select -     - Select - - Select - Nov. 10   - Select - - Select -     - Select - - Select -     - Select - - Select -

Assume that on January 1, year 1, ABC Incorporated issued 5,000 stock options with an estimated value of $10 per option. Each option entitles the owner to purchase one share of ABC stock for $25 a share (the per share price of ABC stock on January 1, year 1, when the options were granted). The options vest at the end of the day on December 31, year 2. All 5,000 stock options were exercised in year 3 when the ABC stock was valued at $31 per share. Identify ABC's year 1, 2, and 3 tax deductions and book-tax differences (indicate as favorable or unfavorable and as permanent or temporary) associated with the stock options under the following alternative scenarios: Required: a. The stock options are incentive stock options. b. The stock options are nonqualified stock options. Complete the following table. Note: For all requirements, leave no answer blank. Enter zero if applicable and select "Not Applicable" if no effect. Under ASC 718 a. Incentive Stock Options b. Nonqualified Stock Options…

Microsoft Corporation's disclosure notes for the year ending June 30, 2020, included the following regarding its $0.00000625 par common stock: Employee Stock Purchase Plan-We have an ESPP for all eligible employees. Shares of our common stock may be purchased by employees at three-month intervals at 90% of the fair market value on the last trading day of each three-month period. Employees may purchase shares having a value not exceeding 15% of their gross compensation during an offering period. Employees purchased the following shares during the periods presented: (Shares in millions) Year Ended June 30, Shares purchased Average price per share 2020 2019 9 11 13 $142.22 $104.85 $76.40 2018 As of June 30, 2020, 96 million shares of our common stock were reserved for future issuance through the ESPP. Required: Prepare the journal entry that summarizes Microsoft's employee share purchases for the year ending June 30, 2020. Note: If no entry is required for a transaction/event, select "No…

Assume that on January 1, year 1, ABC Inc. issued 7,250 stock options with an estimated value of $13 per option. Each option entitles the owner to purchase one share of ABC stock for $25 a share (the per share price of ABC stock on January 1, year 1, when the options were granted). The options vest at the end of the day on December 31, year 2. All 7,250 stock options were exercised in year 3 when the ABC stock was valued at $34 per share. Identify ABC's year 1, 2, and 3 tax deductions and book-tax differences (indicate as favorable or unfavorable and as permanent or temporary) associated with the stock options under the following alternative scenarios: Required: a. The stock options are incentive stock options. b. The stock options are nonqualified stock options. Complete the following table. (For all requirements, leave no answer blank. Enter zero if applicable and select "N/A" if no effect.) Under ASC 718 Incentive Stock Options b. Nonqualified Stock Options a. Book-Tax Diff Year 1…