Mann Inc. offers a restricted stock award plan to its vice presidents. On January 1, 2021, the corporation granted 10 million of its $5 par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market value of $10 per share on the date the award is granted. Required: 1. Assume that no shares are forfeited. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2022. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that no shares are forfeited. Determine the total compensation cost pertaining to the restricted shares. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).) Total compensation cost S 100 million Required S Required 2 >
Mann Inc. offers a restricted stock award plan to its vice presidents. On January 1, 2021, the corporation granted 10 million of its $5 par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market value of $10 per share on the date the award is granted. Required: 1. Assume that no shares are forfeited. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2022. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that no shares are forfeited. Determine the total compensation cost pertaining to the restricted shares. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).) Total compensation cost S 100 million Required S Required 2 >
Chapter19: Deferred Compensation
Section: Chapter Questions
Problem 24CE
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