Tweedie Company issues 10,000 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2020. The stock has a fair value of $500,000 on this date. The service period related to this restricted stock is 5 years. Vesting occurs if Tokar stays with the company until December 31, 2024. The par value of the stock is $10. At December 31, 2020, the fair value of the stock is $450,000. Instructions a. Prepare the journal entries to record the restricted stock on January 1, 2020 (the date of grant), and December 31, 2021. b. On July 25, 2024, Tokar leaves the company. Prepare the journal entry (if any) to account for this forfeiture
Tweedie Company issues 10,000 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2020. The stock has a fair value of $500,000 on this date. The service period related to this restricted stock is 5 years. Vesting occurs if Tokar stays with the company until December 31, 2024. The par value of the stock is $10. At December 31, 2020, the fair value of the stock is $450,000. Instructions a. Prepare the journal entries to record the restricted stock on January 1, 2020 (the date of grant), and December 31, 2021. b. On July 25, 2024, Tokar leaves the company. Prepare the journal entry (if any) to account for this forfeiture
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 9E: Restricted Share Units On January 2, 2019, Dekker Company grants each of its 15 new employees 200...
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Tweedie Company issues 10,000 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2020. The stock has a fair value of $500,000 on this date. The service period related to this restricted stock is 5 years. Vesting occurs if Tokar stays with the company until December 31, 2024. The par value of the stock is $10. At December 31, 2020, the fair value of the stock is $450,000.
Instructions
a. Prepare the journal entries to record the restricted stock on January 1, 2020 (the date of grant), and December 31, 2021.
b. On July 25, 2024, Tokar leaves the company. Prepare the
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