Company D Financial Reporting

Company D Financial Reporting Discussion Paper

Instructions/Descriptions

Company D Financial Reporting Discussion Paper

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On January 1, 2020 Company D established a cash settled share appreciation plan for 50executives of the company.

Here are the relevant details:

Each executive received 5,000 rights

The benchmark price established was $ 20.

Each executive had the right to receive cash for share appreciation over the benchmark price times the number of rights issued to them.

The plan expires on December31, 2024

The rights vest after 3 years (December 31, 2022)

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At the end of 2020 2 executives leave and it is estimated that 4 more will leave before the vesting date.

At the end of 2021 2 more executives leave and it is now estimated that 10 more will leave before the vesting date.

At the end of 2022 10 more executives leave.

At the end of 2022 18 executives exercise their rights

At the end of 202312 executives exercise their rights

At the end of 2024 6 executives exercise their rights

SAR fair value and market price information is as follows:

December 31, 2020 FV=$3.60 MP = $ 21.40

December 31, 2021 FV=$3.30 MP = $ 22.10

December 31, 2022 FV=$4.10 MP = $ 22.75

December 31, 2023 FV=$5.10 MP = $ 24.00

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December 31, 2024 FV=$3.50 MP = $ 23.50

Question:

Using IFRS prepare journal entries for the years 2020to 2024including the deferred tax entries for each year.Assume a tax rate of 40% for all years.

On January 1, 2020 Company D established a cash settled share appreciation plan for 50executives of the company.

Here are the relevant details:

Each executive received 5,000 rights

The benchmark price established was $ 20.

Each executive had the right to receive cash for share appreciation over the benchmark price times the number of rights issued to them.

The plan expires on December31, 2024

The rights vest after 3 years (December 31, 2022)

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At the end of 2020 2 executives leave and it is estimated that 4 more will leave before the vesting date.

At the end of 2021 2 more executives leave and it is now estimated that 10 more will leave before the vesting date.

At the end of 2022 10 more executives leave.

At the end of 2022 18 executives exercise their rights

At the end of 202312 executives exercise their rights

At the end of 2024 6 executives exercise their rights

SAR fair value and market price information is as follows:

December 31, 2020 FV=$3.60 MP = $ 21.40

December 31, 2021 FV=$3.30 MP = $ 22.10

December 31, 2022 FV=$4.10 MP = $ 22.75

December 31, 2023 FV=$5.10 MP = $ 24.00

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December 31, 2024 FV=$3.50 MP = $ 23.50

Question:

Using IFRS prepare journal entries for the years 2020to 2024including the deferred tax entries for each year.Assume a tax rate of 40% for all years.

Company D Financial Reporting Discussion Paper

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