Walters Audio Visual, Inc., offers a stock option plan to its regional managers. On January 1, 2016, options were granted for 40 million $1 par common shares. The exercise price is the market price on the grant date, $8 per share. Options cannot be exercised prior to January 1, 2018, and expire December 31, 2022. The fair value of the options, estimated by an appropriate option pricing model, is $2 per option. Because the plan does not qualify as an incentive plan, Walters will receive a tax deduction upon exercise of the options equal to the excess of the market price at exercise over the exercise price. The income tax rate is 40%.Required: 1. Determine the total compensation cost pertaining to the stock option plan. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).)

2. Prepare the necessary journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

1. Record compensation expense on December 31, 2016.

2. Record any tax effect related to compensation expense recorded in 2016.

3. Record compensation expense on December 31, 2017.

4. Record any tax effect related to compensation expense recorded in 2017.

5. Record the exercise of the options on March 20, 2021 when the market price is $12 per share.

6. Record any tax effect related to the exercise of the options.

Given this project and the requirement that the number of resources working on a task cannot be less than the number assigned to the task, answer the following question. What is the least amount of time that the project can be completed and how many resources are required to complete the work?a. 16 days, 7 workers
b. 7 days, 5 workers
c. 5 days, 7 workers
d. 8 days, 3 workers

10-2. Why is the formal training of workers so important to most employers?

Tina is very skilled at knowing what gifts are acceptable to give coworkers and clients when she travels around the world representing Pepsi.

Kay borrowed $200,000 for her business. First Bank loaned the money but required a surety and collateral. Kay put up her boat, valued at $110,000, and Anson agreed to guarantee the entire loan. After Kay had paid $50,000 of the loan, she asked First Bank to release the collateral since she wanted to sell it to her brother. The bank looked at her perfect payment record and agreed. Two weeks later, she sold the business, took the boat to Brazil, and never was heard from again. Can First Bank collect from Anson?

Wiley Consulting purchased $7,800 worth of supplies and paid cash immediately. Which of the following general journal entrie will Wiley Consulting make to record this transaction? Assume the company's policy is to Initially record prepaid and unearned Items In balance sheet accounts. Multiple Choice Accounts Accounts Payable 7,800
Supplies 7, 800

Referring to the average length of time modern justices sit on the Supreme Court, one law professor stated that, "Serving 25 years or more is too long in a democracy."What do you think he meant by that? 5. Do you support the current life appointment system or do you think justices should be.forced to retire? Explain your answer.