On January 1, 2017 (the date of grant), Martinez Corporation issues 7,000 shares of restricted stock to its executives. The fair value of these shares is $194,250, and their par value is $7,000. The stock is forfeited if the executives do not complete 3 years of employment with the company. Prepare the journal entry (if any) on January 1, 2017, and on December 31, 2017, assuming the service period is 3 years.
On January 1, 2017 (the date of grant), Martinez Corporation issues 7,000 shares of restricted stock to its executives. The fair value of these shares is $194,250, and their par value is $7,000. The stock is forfeited if the executives do not complete 3 years of employment with the company. Prepare the journal entry (if any) on January 1, 2017, and on December 31, 2017, assuming the service period is 3 years.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 8RE: On January 2, 2019, Brust Corporation grants its new CFO 2,000 restricted share units. Each of the...
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On January 1, 2017 (the date of grant), Martinez Corporation issues 7,000 shares of restricted stock to its executives. The fair value of these shares is $194,250, and their par value is $7,000. The stock is forfeited if the executives do not complete 3 years of employment with the company. Prepare the
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