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Magnetic Optical Corporation offers a variety of share-based compensation plans to employees. Under its restricted stock unit the company on January 1, 2024, granted restricted
Magnetic Optical Corporation offers a variety of share-based compensation plans to employees. Under its restricted stock unit the company on January 1, 2024, granted restricted stock units (RSUS) representing 19 million of its $1 par common shares to division managers. The shares are subject to forfeiture if employment is terminated within three years. The common shares have a market price of $6.00 per share on the grant date Management's policy is to estimate forfeitures Required: 1. Determine the total compensation cost pertaining to the RSUs. 2. Prepare the appropria 3. Prepare the appropriate 4. Suppose Magnetic-Optice urnal entry to record the RSUs on January 1, 2024 mal entry to record compensation expense on December 31, 2024. ected a 10% forfeiture rate on the RSUS prior to vesting Determine the total compensation cost Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Req 4 Determine the total compensation cost pertaining to the RSUs. Note: Enter your answer in millions (ie., 10,000,000 should be entered as 10). Total compensation cost million Req 2 and 3>
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