Mann Inc. offers a restricted stock award plan to its vice presidents. On January 1, 2021, the corporation granted 10 million of its $5 par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market value of $10 per share on the date the award is granted. Required: 1. Assume that no shares are forfeited. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 3
Mann Inc. offers a restricted stock award plan to its vice presidents. On January 1, 2021, the corporation granted 10 million of its $5 par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market value of $10 per share on the date the award is granted. Required: 1. Assume that no shares are forfeited. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 3
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter17: Business Tax Credits And The Alternative Minimum Tax
Section: Chapter Questions
Problem 5CE
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Question
Mann Inc. offers a restricted stock award plan to its vice presidents. On January 1, 2021, the corporation granted 10 million of its $5 par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market value of $10 per share on the date the award is granted.
Required:
1. Assume that no shares are forfeited. Determine the total compensation cost pertaining to the restricted shares.
2. Prepare the appropriate
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