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Record the general journal entry for January

    Assignment Instructions

    Assignment ID: FG133136034

    Question – Beretta, Inc. grants options that permit executives to acquire 100,000 of the company’s $2.00 par value stock over the next four years, but not before the vesting period of two years.

    On January 1, 2018, a value of $2.00 per share is placed on the value of the stock options that will allow these executives to purchase shares of stock at $7.00 per share.

    Unexpected turnover during 2019 caused a forfeiture of 7.00% of the stock option value.

    On February 1, 2020 40,000 of the options were exercised when the market value was $32.00 a share.

    On January 1, 2022, the remaining options were never exercised and allowed to expire.

    Required – Record the general journal entry for January 1, 2022.

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