On January 1, 2025, Splish Corporation granted 1,800 shares of restricted-stock units. The par value of the stock is $5 per share. The market price (fair value) of the stock is $64 per share on the date of grant. The period of benefit is 2 years. Prepare Splish's journal entries for December 31, 2025 and 2026. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date 12/31/25 12/31/26 12/31/26 2/31 12/31/25 12/31/26 12/31/26 Account Titles and Explanation Unearned Compensation Paid-in Capital in Excess of Par - Common Stock Compensation Expense Unearned Compensation (To record compensation expense) Compensation Expense Unearned Compensation Paid-in Capital in Excess of Par - Common Stock Compensation Expense Unearned Compensation (To record compensation expense) Compensation Expense (To record transfer of common stock) Debit 000 00000 Credit
On January 1, 2025, Splish Corporation granted 1,800 shares of restricted-stock units. The par value of the stock is $5 per share. The market price (fair value) of the stock is $64 per share on the date of grant. The period of benefit is 2 years. Prepare Splish's journal entries for December 31, 2025 and 2026. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date 12/31/25 12/31/26 12/31/26 2/31 12/31/25 12/31/26 12/31/26 Account Titles and Explanation Unearned Compensation Paid-in Capital in Excess of Par - Common Stock Compensation Expense Unearned Compensation (To record compensation expense) Compensation Expense Unearned Compensation Paid-in Capital in Excess of Par - Common Stock Compensation Expense Unearned Compensation (To record compensation expense) Compensation Expense (To record transfer of common stock) Debit 000 00000 Credit
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
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 3E
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