Answered step by step
Verified Expert Solution
Question
1 Approved Answer
CHAPTER 2 1 QUESTION 1 . ALL INFO HERE Required a. Compute the total amount of compensation cost for the restricted stock unit plan. b.
CHAPTER QUESTION ALL INFO HERE
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 of Year 1. c. Prepare the journal entry on December 31 of Year 2. d. Prepare the journal entry on December 31 of Year 3. At that time, the company adjusts its estimate of forfeitures to 10%. e. Prepare the journal entries on December 31 of Year 4 to record (1) compensation expense and (2) distribution of shares, assuming actual forfeitures of 2,304 shares in Year 4. Note: If a journal entry isn't required on any of the dates shown, select "N/Adebit" and "N/Acredit" as the account names and leave the Dr. and Cr. answers blank (zero). a. Total amount of compensation cost 0 Date b. Dec. 31, Year 1 c. Dec. 31, Year 2 d. Dec. 31, Year 3 Account Name To record compensation cost. To record adjusting entryx Dr. cash OreierredStOe ot-nrH6nStQk -paidqnCPitaunxcessParCmmonStock$E Pa Pa id-i Unea Com pensation-Expens N/Acredit To record adjusting entrL e. Dec. 31, Year 4 To record adjusting entn, Dec 31, Year 4 To record distribution of shares. Check
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started