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muminat
2 years ago
13

Garavelli Industries granted restricted stock units (RSUs) representing 60 million of its $1 par common shares to executives, su

bject 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. The common shares had a market price of $8 per share on the grant date. Ignoring taxes, what is the effect on earnings in the year after the shares are granted to executives?
$ 0
$ 60 million
$160 million
$480 million
Business
1 answer:
DedPeter [7]2 years ago
4 0
$480 would be your answer because the fair value per share $8 x 60 mil = $480 the $480 mil total compensation is expensed equally over the three-year vesting period reducing earnings by $160 million each year :D
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3 years ago
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Answer:

1.

Dec 31    Rent expense                   $3450 Dr

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2.

Oct 1     Prepaid Rent                        $13800 Dr

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3.

Year end balances at 31 December:

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1.

The rent is paid in advance thus it is an asset. On 31 December the adjusting entry will be made under the accrual principle to match the current period's rent expense and record it in the period to which it belongs to. Thus we will credit the rent expense for 3 months i.e. October, November and December. We will credit the asset account that is Prepaid Rent.

2.

The prepayment of rent is creating an asset account in the title of prepaid rent. The entry would be to record the asset prepaid rent by the full amount of the rent prepaid and credit the other asset account through which the payment is being made.

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The adjusted year end balance for rent expense will be the rent expense paid for this period that is $1150 * 3 = 3450

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8 0
3 years ago
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