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Mann Inc. offers a restricted stock award plan to its vice presidents. On January 1, 2018, the corporation granted 10 million of its $5 par

Mann Inc. offers a restricted stock award plan to its vice presidents. On January 1, 2018, the corporation granted 10 million of its $5 par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market value of $9.5 per share on the date the award is granted.

Prepare the appropriate journal entries related to the restricted stock through December 31, 2019.

  • Record the issuing of shares at December 31, 2019.image text in transcribed
95.0 December 31, 201 Paid-in capital-restricted stock Common stock Paid-in capitalexcess of par 10.0 X 85.0

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