On December 31, 2020, 6,000 restricted stock units were granted to key employees under this plan when

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On December 31, 2020, 6,000 restricted stock units were granted to key employees under this plan when the market price of the common stock was $\$ 18$ per share.

Required

a. Compute the total amount of compensation cost for the restricted stock unit plan.

b. Prepare the journal entry on the date of grant, December $31,2020$.

c. Prepare the journal entry on December 31, 2021.

d. Prepare the journal entry on December 31, 2022, including the issuance of the shares of stock.

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Intermediate Accounting Volume 2

ISBN: 9781618533135

2nd Edition

Authors: Hanlon, Hodder, Nelson, Roulstone, Dragoo

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On December 31, 2020, 6,000 restricted stock units were granted to key employees under this plan when

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Intermediate Accounting Volume 2

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