Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Show your work please!! E 1 5 . 1 4 ( LO 3 ) ( Accounting for Restricted Stock ) Tweedie Company issues 1 0

Show your work please!! E15.14(LO 3)(Accounting for Restricted Stock) Tweedie Company issues 10,000 shares of restricted stock to its CFO, Mary Tokar, on January 1,2025. The stock has a fair value of \(\$ 500,000\) on this date. The service period related to this restricted stock is 5 years. Vesting occurs if Tokar stays with the company until December 31,2029. The par value of the stock is \(\$ 10\). At December 31,2025, the fair value of the stock is \(\$ 450,000\).c. Prepare the journal entries on January 1,2025, and December 31,2026, assuming that Tweedie issued 10,000 shares of restricted stock units instead of 4,000 shares of restricted stock. d. On July 5,2029, Tokar leaves the company. Prepare the journal entry (if any) to account for this forfeiture of restricted stock units.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Charles E. Davis, Elizabeth Davis

2nd edition

1118548639, 9781118800713, 1118338448, 9781118548639, 1118800710, 978-1118338445

More Books

Students also viewed these Accounting questions