13. Alaska Company issued 53,000 shares of $3 par value, restricted stock to each of its five key executives on January 1, 2015. Each executive receives 10,600 shares. Alaska's shares have a market value of $35 per share on the date of issue. The restricted shares require a vesting period of four years. Alaska's year-end is December 31. Requirements a. Prepare the journal entries required for 2015 through 2018 b. Independent of a., prepare all the journal entries for 2015 through 2018 assuming that three of the executives leave the company at January 1, 2017 Requirement a. Prepare the journal entries required for 2015 through 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) First, prepare the journal entry on the date of the grant of the restricted shares on January 1, 2015. January 1, 2015 Account (1) Deferred Compensation - Restricted Stock (2) Common Stock (3) Additional Paid-in Capital in Excess of Par - Common Record the journal entry for deferred compensation that is amortized on December 31, 2015. December 31, 2015 Account (5) Compensation Expense (6) Deferred correensclide. Restricted Shock (8) Record the journal entry for deferred compensation that is amortized on December 31, 2016. December 31, 2016 Account (9) Compensation Expense_ (10) Comensation Restri Glee Stock (11) (12) Record the journal entry for deferred compensation that is amortized on December 31, 2017. December 31, 2017 Account 1 (13) Conversation Expense 11 (14) Derewed Campensation Restricted stock (15) (16) Record the journal entry for deferred compensation that is amortized on December 31, 2018 December 31, 2018 Account ((17) Compensation Expense (18) ocferred compensation Restricted Shich (19) (20) Requirement b. Independent of a., prepare all the journal entries for 2015 through 2018 assuming that three of the executives leave the company at January 1, 2017. (Record debits first, then credits. Exclude explanations from any journal entries.) First, prepare the journal entry on the date of the grant of the restricted shares on January 1, 2015 January 1, 2015 Account (21) Deferred Compensation feestricted stock (22) Common stock (23) Additional Purdin Cotto Excess Par Commar (24) Record the journal entry for deferred compensation that is amortized on December 31, 2015. Account December 31, 2015 (25) Comarisation Exocase (26) Descuced compensation 20chricted slock (27) (28) Record the journal entry for deferred compensation that is amortized on December 31, 2016 December 31, 2016 Account (29) Compensation Expanse (30) Corried comecasation Restricted (31) (32) Stock Next, prepare the journal entry needed to record the forfeiture of the restricted stock awared for the three exeuctives who leave the company on January 1, 2017 January 1, 2017 Account (33) Condon Stock (34) Additional Paidin Capital in Ercos Par Com (35) Deened Compensation Restricted stock (36) Concernsation Expense Record the journal entry for deferred compensation that is amortized on December 31, 2017 Account December 31, 2017 |(37) Compensation Expense (38) Deferred Compensation Restricted Stock (39) (40) Record the journal entry for deferred compensation that is amortized on December 31, 2018. December 31, 2018 Account (41) Comensation Expense |(42) Deferred Compensation Restricted stor (43) (44)
