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Prepare the journal entries to record the restricted stock

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Reference no: EM132908685

Splish Company issues 4,300 shares of restricted stock to its CFO, Dane Yaping, on January 1, 2020. The stock has a fair value of $111,000 on this date. The service period related to this restricted stock is 4 years. Vesting occurs if Yaping stays with the company for 4 years. The par value of the stock is $5. At December 31, 2021, the fair value of the stock is $152,000.

Problem 1: Prepare the journal entries to record the restricted stock on January 1, 2020 (the date of grant), and December 31, 2021.

Problem 2: Prepare the journal entry to account for this forfeiture.

Reference no: EM132908685

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