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Question 1: On January 1st, 2020 Mandrake Company grants 5,000,000 shares of its $2 par common stock as restricted stock units for their employees. The
- Question 1: On January 1st, 2020 Mandrake Company grants 5,000,000 shares of its $2 par common stock as restricted stock units for their employees. The market value on the grant date is $24 per share.The RU's vest for 3 years so employees will receive on December 31st, 2022. Make the following if necessary journal entries:
-January 1st, 2020 grant date entry:
- December 31st, 2020 first expense date entry:
-December 31st, 2022 entry assuming all employees stuck around and are receiving the full 5,000,000 shares.
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