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jekas [21]
3 years ago
7

The Peach Corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares on

January 1, 2021, which vest in four years. The fair value of the shares is $14. No forfeitures are anticipated. Ignore taxes. Required: 1. Determine the total compensation cost pertaining to the restricted stock. 2. & 3. Prepare the appropriate journal entries (if any).
Business
1 answer:
daser333 [38]3 years ago
6 0

Answer:

1. Determine the total compensation cost pertaining to the restricted stock.

  • 30 million x $14 = $420 million

2. Prepare the appropriate journal entries

December 31, Year 1:

Dr Stock compensation expense 105,000,000

    Cr Additional paid in capital - restricted stock 105,000,000

December 31, Year 2:

Dr Stock compensation expense 105,000,000

    Cr Additional paid in capital - restricted stock 105,000,000

December 31, Year 3:

Dr Stock compensation expense 105,000,000

    Cr Additional paid in capital - restricted stock 105,000,000

December 31, Year 4:

Dr Stock compensation expense 105,000,000

    Cr Additional paid in capital - restricted stock 105,000,000

January 1, Year 4, the stocks are handed out:

Dr Additional paid in capital - restricted stock 420,000,000

    Cr Common stock 420,000,000

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3 years ago
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1.98%

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Question text The first task of an event marketer is to Select one: a. Attract attendees b. Elicit sponsors c. Organize staff d.
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4 0
10 months ago
Clay Corporation manufactures two styles of lampslong dasha Bedford Lamp and a Lowell Lamp. The following per unit data are​ ava
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Answer:

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