Solution-Prepare the journal entries to record the

Prepare the journal entries to record the restricted stock

Reference no: EM13546325

(Accounting for Restricted Stock) Tweedie Company issues 10,000 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2012. 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, 2016. The par value of the stock is $10. At December 31, 2012, the fair value of the stock is $450,000.

Instructions

(a) Prepare the journal entries to record the restricted stock on January 1, 2012 (the date of grant), and December 31, 2013.

(b) On July 25, 2016, Tokar leaves the company. Prepare the journal entry (if any) to account for this forfeiture.

Reference no: EM13546325

Questions Cloud

The employer need to contribute to the pension plan : How much will the employer need to contribute to the pension plan

Explain how massive a person would make the ladder slip : A uniform 7.6 ladder is leaning against a frictionless vertical wall, with which it makes a 15 angle. how massive a person would make the ladder slip

Explain the water at the top and bottom of the falls : The upper falls in Yosemite National park, at 440 m, is among the 20 highest waterfalls in the world. Estimate the difference between the temperature of the water at the top and bottom of the falls.

What is its average angular speed during the spin-up time : A merry-go-round starts from rest and accelerates with angular acceleration 1.2×10?2 for 13. What is its average angular speed during the spin-up time

Prepare the journal entries to record the restricted stock : Prepare the journal entries to record the restricted stock and prepare the journal entry (if any) to account for this forfeiture.

Explain lithium is the least dense metal known : lithium is the least dense metal known (density: 0.53 g/cm^3) what is the volume occupied by 8.00 x10^3g of lithium.

Find the maximum load that can be hung from a copper wire : Copper wire has a breaking stress of about 3×108 N/m2. What is the maximum load that can be hung from a copper wire of diameter 0.66 mm

Find what is its apparent location : A car's outside rear-view mirror is convex, with focal length -1.2m. What is it's apparent height, and what is its apparent location

Explain an oxidation number of zero or its charge : How do you know when an element that is by itself has an oxidation number of zero or its charge

User Account

All Pages

Prepare the journal entries to record the restricted stock

Reference no: EM13546325

Reference no: EM13546325

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT