Essay
Employee share ownership plans
Grieger Inc. set up an ESOP under which employees may purchase shares of the company for $ 20 per share. The option premium is $ .50 per share and Grieger set aside 20,000 shares. On January 1, 2020, 12,000 options are purchased by employees. On December 1, 2020, all 12,000 options are exercised.
Instructions
Prepare the journal entries to record the above events.
Correct Answer:
Verified
Correct Answer:
Verified
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