E16.15 (LO 3) (Accounting for Restricted Shares) Lopez SpAissues 10,0o0 restrictedshares to its CFO, Juan Carlos, on January 1, 2022. The shares have a fair value of C500,000 onthis date. The service period related to the restricted shares is 5 years. Vesting occurs if Carlos stayswith the company for 6 years. The par value of the shares is €10. At December 31, 2022, the fairvalue of the shares is C450,000.Instructionsa. Prepare the journal entries to record the restricted shares on January 1, 2022 (the date ofgrant), and December 31, 2023b. On January 1, 2027, Carlos leaves the company. Prepare the journal entry (if any) to accountfor this forfeiture.

To keep track of the financial transactions, journal entries are used. You enter transaction…

16.15 (LO 3) (Accounting for Restricted Shares) Lopez SpA issues 10,000 restricted ares to its CFO, Juan Carlos, on January 1, 2022. The shares have a fair value of €500,00o on is date. The service period related to the restricted shares is 5 years. Vesting occurs if Carlos stays th the company for 6 years. The par value of the shares is C10. At December 31, 2022, the fair lue of the shares is €450,000. structions Prepare the journal entries to record the restricted shares on January 1, 2022 (the date of grant), and December 31, 2023. On January 1, 2027, Carlos leaves the company. Prepare the journal entry (if any) to account

16.15 (LO 3) (Accounting for Restricted Shares) Lopez SpA issues 10,000 restricted ares to its CFO, Juan Carlos, on January 1, 2022. The shares have a fair value of €500,00o on is date. The service period related to the restricted shares is 5 years. Vesting occurs if Carlos stays th the company for 6 years. The par value of the shares is C10. At December 31, 2022, the fair lue of the shares is €450,000. structions Prepare the journal entries to record the restricted shares on January 1, 2022 (the date of grant), and December 31, 2023. On January 1, 2027, Carlos leaves the company. Prepare the journal entry (if any) to account

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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