Luau Company issues 5,000 shares of restricted stock to its CFO, Sasha Fierce, on January 1, 2020. The stock has a fair value of $148,000 on this date. The service period related to this restricted stock is 5 years. Vesting occurs if Fierce stays with the company for 5 years. The par value of the stock is $5. At December 31, 2021, the fair value of the stock is $169,000. Prepare the journal entries to record the restricted stock on January 1, 2020 (the date of grant), December 31, 2021, December 31, 2022. On February 1, 2023, Fierce leaves the company. Prepare the journal entry to account for this forfeiture. 2. General Journal Debit Credit

Luau Company issues 5,000 shares of restricted stock to its CFO, Sasha Fierce, on January 1, 2020. The stock has a fair value of $148,000 on this date. The service period related to this restricted stock is 5 years. Vesting occurs if Fierce stays with the company for 5 years. The par value of the stock is $5. At December 31, 2021, the fair value of the stock is $169,000. Prepare the journal entries to record the restricted stock on January 1, 2020 (the date of grant), December 31, 2021, December 31, 2022. On February 1, 2023, Fierce leaves the company. Prepare the journal entry to account for this forfeiture. 2. General Journal Debit Credit

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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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

Practice Exercises - Restricted Stock
Luau Company issues 5,000 shares of restricted stock to its CFO, Sasha Fierce, on
January 1, 2020. The stock has a fair value of $148,000 on this date. The service
period related to this restricted stock is 5 years. Vesting occurs if Fierce stays with
the company for 5
the fair value of the stock is $169,000.
Prepare the journal entries to record the restricted stock on January 1, 2020
(the date of grant), December 31, 2021, December 31, 2022.
On February 1, 2023, Fierce leaves the company. Prepare the journal entry to
account for this forfeiture.
2.
years. The
par value of the stock is $5. At December 31, 2021,
General Journal
Debit
Credit
ASA
ab
ENG
INTL
Cc
F5
F3
※一
F11
PriSc
F6
F7
F8
F9
F10
F12
23

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