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- On January 2, 2019, Brust Corporation grants its new CFO 2,000 restricted share units. Each of the time-vested restricted share units entitles the CFO to receive one share of Brust common stock if she remains an employee of the company for 4 years. On January 2, 2019, shares of Brusts 1 par value common are trading at 29.50 per share. The company estimates that the CFO will complete all 4 years of required service with the company. Prepare the journal that Brust should make each year to account for the restricted share units.On January 1, 2018, VKI Corporation awarded restricted stock units (RSUs) representing 12 million of its $1 parcommon shares to key personnel, subject to forfeiture if employment is terminated within three years. After therecipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. On the grant date,the shares had a market price of $2.50 per share.Required:1. Determine the total compensation cost pertaining to the RSUs.2. Prepare the appropriate journal entry to record the award of RSUs on January 1, 2018.3. Prepare the appropriate journal entry to record compensation expense on December 31, 2018.4. Prepare the appropriate journal entry to record compensation expense on December 31, 2019.5. Prepare the appropriate journal entry to record compensation expense on December 31, 2020.6. Prepare the appropriate journal entry to record the lifting of restrictions on the RSUs and issuing shares atDecember 31, 2020.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 31, 2022.
- First Link Services granted 5.8 million of its $1 par common shares to executives, subject to forfeiture if employment is terminated within five years. The common shares have a market price of $20 per share on the grant date of the restricted stock award. Ignoring taxes, what is the effect on earnings in the year after the shares are granted to executives?On January 1, 2021, Tru Fashions Corporation awarded restricted stock units (RSUs) representing 10 million of its $1 par common shares to key personnel, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. On the grant date, the shares had a market price of $7.50 per share. Required: 1. Determine the total compensation cost pertaining to the RSUs.2. Prepare the appropriate journal entry to record the award of RSUs on January 1, 2021.3. Prepare the appropriate journal entry to record compensation expense on December 31, 2021.4. Prepare the appropriate journal entry to record compensation expense on December 31, 2022.5. Prepare the appropriate journal entry to record compensation expense on December 31, 2023.6. Prepare the appropriate journal entry to record the lifting of restrictions on the RSUs and issuing shares at December 31, 2023.This year, Gogo, Incorporated granted a nonqualified stock option to Mwana to buy 9,000 shares of Gogo stock for $8.7 per share for five years. At date of grant, Gogo stock was selling on a regional securities market for $8.36 per share. Gogo recorded $34,200 compensation expense for the estimated value of the option. Required: How much income must Mwana recognize this year? Can Gogo deduct the $34,200 expense on this year’s tax return? Assuming a 21 percent tax rate, compute Gogo’s deferred tax asset or deferred tax liability (identify which) resulting from the $34,200 compensation expense
- Slytherin Services, Inc. granted 8 million of its $1 par common shares to executives subject to foreiture if employment is terminated within three years. The common shares have a market price of $6 per share on the grant date of the restricted stock award. Ignoring taxes, what is the total compensation cost pertaining to the restricted shares (first answer, no dollar signs or commas, rounded to the nearest whole dollar)?On January 1, 2021, Tru Fashions Corporation awarded restricted stock units (RSUs) representing 25 million of its $1 par common shares to key personnel, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. On the grant date, the shares had a market price of $3.30 per share. Required: 1. Determine the total compensation cost pertaining to the RSUs.2. Prepare the appropriate journal entry to record the award of RSUs on January 1, 2021.3. Prepare the appropriate journal entry to record compensation expense on December 31, 2021.4. Prepare the appropriate journal entry to record compensation expense on December 31, 2022.5. Prepare the appropriate journal entry to record compensation expense on December 31, 2023.6. Prepare the appropriate journal entry to record the lifting of restrictions on the RSUs and issuing shares at December 31, 2023. Please help and show formulaLance Chips granted restricted stock units (RSUS) representing 40 million of its $1 par common shares to executives, subject to forfeiture if employment is terminated within four years. Shares vest after 4 years. After the recipients of the RSUS satisfy the vesting requirement, the company will distribute the shares. The common shares had a market price of $5 per share on the grant date. The annual compensation expense pertaining to the restricted stock units is: A) $5 million. B) $40 million. C) $50 million. D) $200 million. O A O B O D
- On January 1, 2016, VKI Corporation awarded restricted stock units (RSUs) representing 12 million of its $1 par common shares to key personnel, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. On the grant date, the shares had a market price of $2.50 per share. Required: 1. Determine the total compensation cost pertaining to the RSUs. 2. Prepare the appropriate journal entry to record the award of RSUs on January 1, 2016. 3. Prepare the appropriate journal entry to record compensation expense on December 31, 2016. 4. Prepare the appropriate journal entry to record compensation expense on December 31, 2017. 5. Prepare the appropriate journal entry to record compensation expense on December 31, 2018. 6. Prepare the appropriate journal entry to record the lifting of restrictions on the RSUs and issuing shares at December 31, 2018.On January 1, 2021, Summer Fashions Corp. awarded restricted stock units (RSUS) representing 5 million of its $1 par common shares to key personnel, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUS satisfy the vesting requirement, the company will distribute the shares. On the grant date, the shares had a market price of $9.00 per share. The journal entry to record the lifting of restrictions on the RSUS and issuing shares at December 31, 2023, would include a: O Credit to Paid-in capital - restricted stock $45 million O None of the options listed. O Credit to Paid-in capital - restricted stock $15 million O Debit to Paid-in capital - restricted stock $45 million O Debit to Paid-in capital - restricted stock $15 million • PreviousFirst Link Services granted 6 million of its $1 par common shares to executives, subject to forfeiture if employment is terminated within three years. The common shares have a market price of $24 per share on the grant date of the restricted stock award. 1. Ignoring taxes, what is the total compensation cost pertaining to the restricted shares?2. Ignoring taxes, what is the effect on earnings in the year after the shares are granted to executives?