Reference no: EM131805247
On January 1, 2016, Manders Inc. granted 250,000 shares of restricted common stock to its key executives.
Manders $4 par value common stock had a $38.40 per share market value on the grant date.
The restricted stock vests on December 31, 2019.
In early 2017, executives who were granted 60,000 shares left Manders to work for Kruz Inc.
Executives who received the remaining 190,000 restricted shares completed the vesting period.
1) Which of the following statements is correct on the grant date?
A) Paid in capital-excess over par should be credited for $8,600,000.
B) There is no effect on total stockholders' equity as a result of recording the restricted stock award.
C) A and B.
D) Neither A nor B.
2) Which of the following statements is correct?
A) The balance in unearned compensation at December 31, 2016 is $7,200,000.
B) As a result of the forfeiture in 2017, unearned compensation should be credited for $1,743,000
C) A and B.
D) Neither A nor B.
3) Which of the following statements is correct?
A) For 2017, net compensation expense related to the restricted stock award is $1,428,000.
B) The balance in unearned compensation at December 31, 2017 is $3,648,000.
C) A and B.
D) Neither A nor B.
4) Which of the following statements is correct?
A) Compensation expense for 2018 is $1,824,000.
B) For the period 2016-2019, the total compensation expense related to the restricted stock award is $8,064,000.
C) A and B.
D) Neither A nor B.
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