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On 1 January 2017, SURDIN granted 100 share options to each of its 80 employees, on condition that the employees would stay in employment for three years. SURDIN estimated that 10% of these employees would leave the employment. The fair value of the options was as follows:
RM
1 January 2017 = RM 5.00
31 December 2017 = RM 5.50
31 December 2018 = RM 5.90
31 December 2019 = RM 5.70
Required:
Calculate the amount recognized as expenses in the statement of profit or loss and the amount disclosed as equity in the
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- On 1 October 2021, Shildon plc granted 500 £1 share appreciation rights (SARS) to each of its 2,000 employees. Employees will be eligible to exercise their rights on 30 September 2024, if they remain employed by Shildon plc. On 30 September 2022, Shildon plc estimated that 10% of employees would leave within the vesting period and forfeit their rights to the SARS. On 30 September 2023, the estimate of total leavers was revised to 25 %. On 1 October 2021, the fair value of each £1 SAR was £5. This fair value of each £1 SAR was £6 on 30 September 2022 and £8 on 30 September 2023. The SAR liability was correctly calculated in accordance with IFRS 2 Share - based payments on 30 September 2022. Required: Advise the directors of Shildon plc on the accounting treatment of the SARS in the year ended 30 September 2023.On 1 August 2020, Candy Ltd issued a disclosure document inviting applications for 10,000 of $80 debentures at par, payable in full on application. The debentures carry an 8% annual interest charge and will be redeemed at nominal value in 5 years. The interest payment is made semi-annually on 31 December and 30 June each year. By 30 September 2020, Candy Ltd received application money for 11,000 debentures. On 1 October 2020, Courtney Ltd issued 10,000 debentures and refunded monies to 1,000 unsuccessful applicants. Required: Prepare a general journal template as per the example below based on the information above, for Candy Ltd for the year ended 30 June 2021. Include a narration.On 1 January 2016, the management of ZAIDY granted an option for 3,000 shares to an employee on condition that he stays in the employment of ZAIDY for three years. Also, the option cannot be exercised till the share price has increased to RM20 per share by the end of the third year.The fair value of the option on 1 January 2016 was RM5 each and was estimated to rise to RM6.50 each by 31 December 2018. The fair value is determined taking into consideration that the share price will rise to more that RM20 each.Required:Calculate the amount recognized in the statement of profit or loss and the amount disclosed as equity in the statement of financial position.
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- Sunshine granted share options to its 600 employees on 1 October 2015. Eachemployee will receive 550 share options provided they continue to work for Sunshine for four years from the grant date. The fair value of each option at the grant date was K1.56.The actual and expected staff movement over the 4 years to 30 September 2019 is given below:2016 :22 employees left and another 50 were expected to leave over the next three years.2017 :A further 28 employees left and another 40 were expected to leave over the next 2 years.2018: A further 19 employees left and another 20 were expected to leave the followingyear. 2019: No actual figures are available to date.The sales director of Sunshine has stated in the board minutes that he disagrees with the treatment of the share options. No cash has been paid out to employees, therefore he failsto understand why an expense is being charged against profits.Requireda. Explain why share-based payments should be recognized in financial statementsb.…On January 1, 2018, PAPASA O ASA Co granted 300 share options to each of its 300 employees for the purchase of P40 ordinary share at P50 per share. The employees are required to be employed in the company at least until the option vested. The share options will vest as follows: · End of 2018, if earnings in 2018 increased by 19%. · End of 2019, if average annual earnings during 2018 and 2019 increased by 13%. · End of 2020, if the entity earnings increase by an average of 10% per year over the three year period. The share options have a fair value of P30 per share at the start of 2018. No dividends are expected to be paid over the three year period. 1. Assume that by the end of 2018, the earnings increased to 19% and 30 employees have left. What is the compensation to be recognized in December 31, 2018? 2. Assume that by the end of 2018, the earnings increased to 14% and 30 employees have left and 20 employees will leave in 2019 and 2020. The entity expect that similar earnings will…On 1 January 2019, Azzurri Berhad sold a stock item with a cost of RM50,000 to Mancini Berhad. The terms of the sale include a five-yearly instalment of RM15,000, each payable at the end of every year. The cash selling price of the stock is RM60,000. An effective interest rate of 7.931% should be used in any calculations With reference to relevant Malaysian Financial Reporting Standards (MFRS), prepare the respective journal entries for the years ended 31 December 2019 and 31 December 2020
- Each of Potter Pie Co.'s 21 new franchisee contracted to pay an initial franchise fee of P30,000. By December 31, 2020, each franchisee had paid a non-refundable P10,000 fee and signed a note to pay P10,000 principal plus the market rate of interest on December 31, 2021 and December 31, 2022. Experience indicates that one franchise will default on the additional payments. Services for the initial franchise fee will be performed in 2021. What amount of net unearned franchise fees would Potter report at December 31, 2020? a.610,000 b.600,000 c.630,000 d.400,000ABC Corp. on January 1, 2016, granted share options for 40,000 shares of its €10 par value ordinary shares to its key employees. The market price of the shares on that date was €23 per share and the option price was €20. The Black-Scholes option pricing model determines total compensation expense to be €240,000. The options are exercisable beginning January 1, 2019, provided those key employees are still in ABC's employ at the time the options are exercised. The options expire on January 1, 2020. On January 1, 2019, when the market price of the shares was €29 per share, all 40,000 options were exercised. The amount of compensation expense ABC should record for 2018 under PSAK 53 is Select one: a. €80,000. b. €40,000. C. €0. d. €120,000.Jack, chief finance officer for sitcom products, convinced the president of the company to enter in to a 90days, forward contract to sell 500,000 kronas as a speculative venture. When the forward contract was acquired on November 1, 2019, the spot rate for the krona was OMR .8041 and the 90days future rate was OMR .8321. At December 31 2019, the end of the firm's fiscal year, the spot rate was $.9483 and the future rate for kronas to be sold on January 30, 2020, was $.9948. On January 30, 2020, the spot rate was $.9830. Required: Prepare all necessary journal entries in regard to the forward contract.