On 1/1/2020 Coopers issued 20 restricted stock shares when the stock was selling for $22. The stock has a $1 par and vesting occurs after two years. Prepare the necessary entries for all of the dates assuming the employees are still working for the company in 2 years. On 1/1/2020 Coopers issued 2,000 shares of restricted-stock units to its CEO, Lisa Leslie. Each unit has a fair value of $30 per share, which is equal to the fair value of one share of stock. Additional information is as follows. The service period related to the restricted stock units is 3 years. Vesting occurs if Leslie stays with the company for 3 years. The par value of the stock is $1 per share.
On 1/1/2020 Coopers issued 20 restricted stock shares when the stock was selling for $22. The stock has a $1 par and vesting occurs after two years. Prepare the necessary entries for all of the dates assuming the employees are still working for the company in 2 years. On 1/1/2020 Coopers issued 2,000 shares of restricted-stock units to its CEO, Lisa Leslie. Each unit has a fair value of $30 per share, which is equal to the fair value of one share of stock. Additional information is as follows. The service period related to the restricted stock units is 3 years. Vesting occurs if Leslie stays with the company for 3 years. The par value of the stock is $1 per share.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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- On 1/1/2020 Coopers issued 20 restricted stock shares when the stock was selling for $22. The stock has a $1 par and vesting occurs after two years. Prepare the necessary entries for all of the dates assuming the employees are still working for the company in 2 years.
- On 1/1/2020 Coopers issued 2,000 shares of restricted-stock units to its CEO, Lisa Leslie. Each unit has a fair value of $30 per share, which is equal to the fair value of one share of stock. Additional information is as follows.
- The service period related to the restricted stock units is 3 years.
- Vesting occurs if Leslie stays with the company for 3 years.
- The par value of the stock is $1 per share.
Prepare the necessary entries for all of the dates assuming the employees are still working for the company in 3 years.
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