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Question 5 On January 1, 2022, Gentry Corporation awarded restricted stock units (RSUs) representing 21.2 million of its $1 par common shares to key
Question 5 On January 1, 2022, Gentry Corporation awarded restricted stock units (RSUs) representing 21.2 million of its $1 par common shares to key officers, subject to forfeiture if employment is terminated within two years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. On the grant date, the shares had a market price of $3.75 per share. Required: 1. Determine the total compensation cost pertaining to the RSUs. 12 points 2. Prepare the appropriate journal entries related to the restricted stock starting on December 31, 2022. Date Accounts in millions Debit Credit
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