On January 1, 2020 (the date of grant), Lupin Corporation issues 2,000 shares of restricted stock...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/665789ad46470_909665789ad370cf.jpg)
Transcribed Image Text:
On January 1, 2020 (the date of grant), Lupin Corporation issues 2,000 shares of restricted stock to its executives. The fair value of these shares is $75,000, and their par value is $10,000. The stock is forfeited if the executives do not complete 3 years of employment with the company. Prepare the journal entry (if any) on January 1, 2020, and on December 31, 2020, assuming the service period is 3 years. 1. Record the journal entry on January 1, 2020 Accounts [Select] [Select] Journal Entry Debit Credit V [Select] [Select] 2. Record the journal entry on December 31, 2020 Accounts [Select] [Select] Journal entry Debit [Select] [Select] [Select] [Select] Credit On January 1, 2020 (the date of grant), Lupin Corporation issues 2,000 shares of restricted stock to its executives. The fair value of these shares is $75,000, and their par value is $10,000. The stock is forfeited if the executives do not complete 3 years of employment with the company. Prepare the journal entry (if any) on January 1, 2020, and on December 31, 2020, assuming the service period is 3 years. 1. Record the journal entry on January 1, 2020 Accounts [Select] [Select] Journal Entry Debit Credit V [Select] [Select] 2. Record the journal entry on December 31, 2020 Accounts [Select] [Select] Journal entry Debit [Select] [Select] [Select] [Select] Credit
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Design a digital controller for the liquid level in the storage system shown in Fig. E. Each tank is 2.5 ft in diameter. The piping between the tanks acts as a linear resistance to flow with R = 2...
-
Review a SORP and discuss the reasons why existing FRSs need to be supplemented.
-
The December 31, 2014, adjusted trial balance for Eagle Consulting Services has been alphabetized as follows: Required Prepare the closing entries. Account Debit Credit No 201 Accounts payable...
-
Evaluate the determinant of the matrix. -47 49 A = 38 2
-
A4 - find the battery voltage R 3 60 2R Three resistors are connected in a circuit with a battery, as shown. The resistance of two of the resistors is given in terms of R. The value of R is given...
-
The following transactions have been journalized and posted to the proper accounts: i . Edward Wilson invested $ 8 , 0 0 0 cash in his new landscaping business. ii . The business paid the first...
-
Supply Chain management Question 1 a)What is the difference between EOQ and MRP? b)What are the inputs and outputs in MRP? Question 2 What is the definition of the following terms in SCM: a)Out of...
-
Explain how to do a Business Plan for Tools Corp as follows: ((1). Executive Summary as the business concept, market opportunity, and product/service offerings, (2). Company Description as the...
-
1. An entrepreneur has set up a company to manufacture and marked GPS systems for hunters. He has decided a sales orientation would best suit his new company. What are important consideration for...
-
1. Using C++, write a program that converts an integer to 32-bit two's complement. Add a space between every 8 bits. Do not use external libraries that provide the calculations automatically. Example...
-
Prepare Fund flow statement from the following Balance sheets- Liabilities Equity Share Capital Preference Share capital 6% Debentures General Reserve Profit & Loss A/c Creditors Provision for tax...
-
What is the salvage value of asset number 340 (Storage Cabinet) as shown on the fixed assets list?_
-
On what date was the Voice Mail System acquired?
-
What is the total value of all assets based on original costs as shown on die fixed assets list?
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App