$11$

On January $1,2024,$ La$-$Dee$-$Da Company awarded $15\mathrm{.}4$ million of its $$1$ par common shares to key officers, subject to forfeiture if employment is terminated within three years. On the date of the grant, the stock had a market price of $$3$ per share.

Required:

Determine the total compensation cost pertaining to the restricted shares.

to $6.$ Prepare the appropriate journal entries.

Complete this question by entering your answers in the tabs below.

Req $1$

Req $2$ to $6$

Prepare the appropriate journal entries.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answer in millions rounded to $1$ decimal place $($i$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).$

$1$ Record the award of $15\mathrm{.}4$ million common shares worth at $$1$ par to key officers on January $1,2024.$

$2$ Record compensation expense for the award of $15\mathrm{.}4$ million common shares at $$1$ par to key officers subject to forfeiture if employment is terminated within three years on December $31,2024$ when stock had a market price of $$3$ per share.

$3$ Record compensation expense for the award of $15\mathrm{.}4$