Allied Paper Products, Incorporated offers a restricted stock award plan to its vice presidents. On January 1, 2024, the company granted 16 million of its $1 par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market price of $6 per share on the grant date Required: 1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2025 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the total compensation cost pertaining to the restricted shares. Note: Enter your answer in millions (ie 10,000,000 should be entered as 10). mlon
Allied Paper Products, Incorporated offers a restricted stock award plan to its vice presidents. On January 1, 2024, the company granted 16 million of its $1 par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market price of $6 per share on the grant date Required: 1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2025 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the total compensation cost pertaining to the restricted shares. Note: Enter your answer in millions (ie 10,000,000 should be entered as 10). mlon
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Allied Paper Products, Incorporated offers a restricted stock award plan to its vice presidents. On January 1, 2024, the company
granted 16 million of its $1 par common shares, subject to forfeiture if employment is terminated within two years. The common
shares have a market price of $6 per share on the grant date
Required:
1. Determine the total compensation cost pertaining to the restricted shares.
2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2025
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Determine the total compensation cost pertaining to the restricted shares.
Note: Enter your answer in millions (ie. 10,000,000 should be entered as 10),
Total pension c
milion
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