Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On January 1 , 2 0 2 4 , Vijay Communications granted restricted stock units ( RSUs ) representing 4 0 million of its $
On January Vijay Communications granted restricted stock units RSUs representing million of its $ par common shares to
executives, 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.
The common shares had a market price of $ per share on the grant date.
At the date of grant, Vijay anticipated that of the recipients would leave the firm prior to vesting.
On January of the RSUs are forfeited due to executive turnover.
Vijay chooses the option to account for forfeitures when they actually occur.
Required:
to Prepare the appropriate journal entries to record compensation expense on December December and
December
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Do not round
intermediate calculations. Enter your answers in millions ie should be entered as
Journal entry worksheet
Record the entry for compensation expense on December
Note: Enter debits before credits.
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