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Nash Company issues 4,100 shares of restricted stock to its CFO, Dane Yaping, on January 1, 2025. The stock has a fair value of $118,000 on this date. The service period related to this restricted stock is 4 years. Vesting occurs if Yaping stays with the company for 4 years. The par value of the stock is $5. At December 31, 2026, the fair value of the stock is $151,000. (c) - Your answer is partially correct. Prepare the journal entries on January 1, 2025, and December 31, 2026, assuming that Nash issued 4.100 shares of restricted stock units instead of 4.100 shares of restricted stock. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record entries in the order displayed in the problem statement.) Date Jan. 1, 2025 v Dec. 31, 2026 V Account Titles and Explanation Unearned Compensation Common Stock Compensation Expense Unearned Compensation Debit 118000 29500 Cn UUOO

Nash Company issues 4,100 shares of restricted stock to its CFO, Dane Yaping, on January 1, 2025. The stock has a fair value of $118,000 on this date. The service period related to this restricted stock is 4 years. Vesting occurs if Yaping stays with the company for 4 years. The par value of the stock is $5. At December 31, 2026, the fair value of the stock is $151,000. (c) - Your answer is partially correct. Prepare the journal entries on January 1, 2025, and December 31, 2026, assuming that Nash issued 4.100 shares of restricted stock units instead of 4.100 shares of restricted stock. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record entries in the order displayed in the problem statement.) Date Jan. 1, 2025 v Dec. 31, 2026 V Account Titles and Explanation Unearned Compensation Common Stock Compensation Expense Unearned Compensation Debit 118000 29500 Cn UUOO

FINANCIAL ACCOUNTING
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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Nash Company issues 4,100 shares of restricted stock to its CFO, Dane Yaping, on January 1, 2025. The stock has a fair value of $118,000 on this date. The service period related to this restricted stock is 4 years. Vesting occurs if Yaping stays with the company for 4 years. The par value of the stock is $5. At December 31, 2026, the fair value of the stock is $151,000. (c) - Your answer is partially correct. Prepare the journal entries on January 1, 2025, and December 31, 2026, assuming that Nash issued 4.100 shares of restricted stock units instead of 4,100 shares of restricted stock. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record entries in the order displayed in the problem statement.) Date Jan. 1, 2025 Dec. 31, 2026 Account Titles and Explanation Unearned Compensation Common Stock Compensation Expense Unearned Compensation Debit 118000 29500 Cn
Transcribed Image Text:Nash Company issues 4,100 shares of restricted stock to its CFO, Dane Yaping, on January 1, 2025. The stock has a fair value of $118,000 on this date. The service period related to this restricted stock is 4 years. Vesting occurs if Yaping stays with the company for 4 years. The par value of the stock is $5. At December 31, 2026, the fair value of the stock is $151,000. (c) - Your answer is partially correct. Prepare the journal entries on January 1, 2025, and December 31, 2026, assuming that Nash issued 4.100 shares of restricted stock units instead of 4,100 shares of restricted stock. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record entries in the order displayed in the problem statement.) Date Jan. 1, 2025 Dec. 31, 2026 Account Titles and Explanation Unearned Compensation Common Stock Compensation Expense Unearned Compensation Debit 118000 29500 Cn
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