Prepare journal entry


Question: On April 1, 2023, Oriole Ltd. paid $155 for a call to buy 450 shares of NorthernTel at $24 per share any time during the next six months. The market price of NothernTel's shares was $24 per share on April 1, 2023. On June 30, 2023, the market price for NorthernTel's stock was $33 per share, and the fair value of the option was $6,450. Prepare journal entry

 

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Financial Accounting: Prepare journal entry
Reference No:- TGS03419703

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