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Friend Connection Inc. included the following disclosure note in an annual report: Share-Based Compensation (in part) ... compensation expense related to these grants is based
Friend Connection Inc. included the following disclosure note in an annual report: Share-Based Compensation (in part) ... compensation expense related to these grants is based on the grant date fair value of the RSUs and is recognized on a straight-line basis over the applicable service period. The following table summarizes the activities for our unvested RSUs for the year ended December 31, 2015: Unvested at December 31, 2014 Granted Vested Forfeited Unvested at December 31, 2015 Unvested RSUS Weighted Number of Average Shares Grant Date (in thousands) Fair Value 114,844 $21.56 54,246 32.15 (48,450) 17.14 (15,767) 25.49 104,873 $28.20 Required: 1. Assuming a four-year vesting period, how much compensation expense did Friend Connection report in the year ended December 31, 2016, for the restricted stock units granted during the year ended December 31, 2015? 2. Based on the information provided in the disclosure note, prepare the journal entry that summarizes the vesting of RSUS during the year ended December 31, 2015. (Friend Connection's common shares have a par amount per share of $0.000006. X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required Required 1 2 Assuming a four-year vesting period, how much compensation expense did Friend Connection report in the year ended December 31, 2016, for the restricted stock units granted during the year ended December 31, 2015? (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).) Compensation expense $ 2x million X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required Required 1 2 Based on the information provided in the disclosure note, prepare the journal entry that summarizes the vesting of RSUS during the year ended December 31, 2015. (Friend Connection's common shares have a par amount per share of $0.000006. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Show less No Credit Debit 830,433 1 Date General Journal December 31 Paid-in capitalrestricted stock Common stock Paid-in capitalexcess of par
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