Purchase shares of common stock par value of 1 per

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purchase shares of common stock (par value of $1 per share) through GBHC at 10% below the market price of the common stock at each quarter-end, subject to a non-rescindable election made any time prior to a quarter-end and subject to 10% of an employee’s pay. The Plan was approved by GBHC’s Board on January 20, and will become effective on March 31. Employees have expressed great interest in the Plan. As the controller, you are trying to estimate whether any costs would be recognized by GBHC at March 31, under IFRS. The market price of common stock has been trading at €50.00 all quarter. Through March 15, employees have requested purchasing 100,000 shares. Based on your discussions with the human resources director, you expect at least another 10,000 shares will be requested to be purchased before March 31. Determine how much cost, if any, would be recognized at March 31. Prepare the journal entry to record the employee purchases and GBHC’s participation at March 31. Assuming a 10% increase in shares purchased each quarter and a 10% increase in share price each quarter, what would be the expected cost, if any, for the year? Prepare a journal entry for the year. If GBHC was following US GAAP, would the answer be the same? If not, what would be the difference? Please provide the required journal entries under US GAAP. 13. On December 31, 2014, a Company entered into an arrangement with an outside attorney to defend it in a lawsuit.
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