DaBaby Company issues 4,000 shares of restricted stock to its CFO, Stallion Megan, on January 1, 2020. The stock has a fair value of $120,000 on this date. The service period related to this restricted stock is 5 years. Vesting occurs if Fierce stays with th company for 5 years. The par value of the stock is $5. At December 31, 2021, the fai value of the stock is $135,000. On January 3, 2023, Megan leaves the company Prepare the journal entry to account for this forfeiture. O Common Stock 20,000 Paid-in-Capital in excess of par Common Stock 100,000 Unearned Compensation 48,000 Compensation Expense 72,000 O Common Stock 120,000O Unearned Compensation 72,000 Compensation Expense 48,000 O Unearned Compensation 120,000 Common Stock 20,000 Paid-in-Capital in excess of par - Common Stock 100,000 O Common Stock 20,000 Paid-in-Capital in excess of par Common Stock 100,000 Unearned Compensation 72,000 Compensation Expense 48,000
DaBaby Company issues 4,000 shares of restricted stock to its CFO, Stallion Megan, on January 1, 2020. The stock has a fair value of $120,000 on this date. The service period related to this restricted stock is 5 years. Vesting occurs if Fierce stays with th company for 5 years. The par value of the stock is $5. At December 31, 2021, the fai value of the stock is $135,000. On January 3, 2023, Megan leaves the company Prepare the journal entry to account for this forfeiture. O Common Stock 20,000 Paid-in-Capital in excess of par Common Stock 100,000 Unearned Compensation 48,000 Compensation Expense 72,000 O Common Stock 120,000O Unearned Compensation 72,000 Compensation Expense 48,000 O Unearned Compensation 120,000 Common Stock 20,000 Paid-in-Capital in excess of par - Common Stock 100,000 O Common Stock 20,000 Paid-in-Capital in excess of par Common Stock 100,000 Unearned Compensation 72,000 Compensation Expense 48,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education