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Req 2 to 6 - Record the award of RSUs on January 1, 2018. - Record compensation expense on December 31, 2018. - Record compensation
Req 2 to 6
- Record the award of RSUs on January 1, 2018.
- Record compensation expense on December 31, 2018.
- Record compensation expense on December 31, 2019.
- Record compensation expense on December 31, 2020.
- Record the lifting of restrictions on the RSUs and issuing shares at December 31, 2020.
On January 1, 2018, VKI Corporation awarded restricted stock units (RSUS) representing 7 million of its $1 par common shares to key personnel, 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. On the grant date, the shares had a market price of $8.40 per share. Required: 1. Determine the total compensation cost pertaining to the RSUS. 2. to 6. Prepare the appropriate journal entries. Complete this question by entering your answers in the tabs below. Req 2 to Req 1 6 Determine the total compensation cost pertaining to the RSUs. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Total million compensation cost Req 1 Req 2 to 6 >Step by Step Solution
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