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5 3.07 points eBook References On January 1, 2021, Tru Fashions Corporation awarded restricted stock units (RSUs) representing 21 million of its $1 par common
5 3.07 points eBook References On January 1, 2021, Tru Fashions Corporation awarded restricted stock units (RSUs) representing 21 million of its $1 par common shares to key personnel, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. On the grant date, the shares had a market price of $4.50 per share. Required: 1. Determine the total compensation cost pertaining to the RSUs. 2. Prepare the appropriate journal entry to record the award of RSUs on January 1, 2021. 3. Prepare the appropriate journal entry to record compensation expense on December 31, 2021. 4. Prepare the appropriate journal entry to record compensation expense on December 31, 2022. 5. Prepare the appropriate journal entry to record compensation expense on December 31, 2023. 6. Prepare the appropriate journal entry to record the lifting of restrictions on the RSUs and issuing shares at December 31, 2023. Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 6 5,500,000 should be entered as 5.5).) Determine the total compensation cost pertaining to the RSUs. (Enter your answer in millions rounded to 1 decimal place (i.e., Total compensation cost million 5 3.07 points eBook References Req 1 Req 2 to 6 Prepare the appropriate journal entries. (If no entry is required for a transaction/event, select "No journal ent account field. Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal pla be entered as 5.5).) View transaction list Journal entry worksheet 1 2 3 4 Record the award of RSUs on January 1, 2021. Note: Enter debits before credits. Date January 01, 2021 General Journal Debit Credit
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