On January 1, 2020, AllClear Company issues 2,000 shares of restricted stock to its CEO, Jason Skyline. AllClear’s stock has a fair value of $30 per share on January 1, 2020. Additional information is as follows. The service period related to the restricted stock is five years. Vesting occurs if Skyline stays with the company for a five-year period. The par value of the stock is $10 per share. Prepare journal entries relating to the restricted stock in 2020. Assume that Jason Skyline leaves the company on April 1, 2021 (before any expense has been recorded during 2021). Prepare journal entry relating to the restricted stock in 2021, if necessary.
On January 1, 2020, AllClear Company issues 2,000 shares of restricted stock to its CEO, Jason Skyline. AllClear’s stock has a fair value of $30 per share on January 1, 2020. Additional information is as follows. The service period related to the restricted stock is five years. Vesting occurs if Skyline stays with the company for a five-year period. The par value of the stock is $10 per share. Prepare journal entries relating to the restricted stock in 2020. Assume that Jason Skyline leaves the company on April 1, 2021 (before any expense has been recorded during 2021). Prepare journal entry relating to the restricted stock in 2021, if necessary.
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, 2020, AllClear Company issues 2,000 shares of restricted stock to its CEO, Jason Skyline. AllClear’s stock has a fair value of $30 per share on January 1, 2020. Additional information is as follows.
- The service period related to the restricted stock is five years.
- Vesting occurs if Skyline stays with the company for a five-year period.
- The par value of the stock is $10 per share.
- Prepare journal entries relating to the restricted stock in 2020.
- Assume that Jason Skyline leaves the company on April 1, 2021 (before any expense has been recorded during 2021). Prepare
journal entry relating to the restricted stock in 2021, if necessary.
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