On January 1, 2025, Splish Corporation granted 1,800 shares of restricted-stock units. The par value of the stock is $5 per share. The market price (fair value) of the stock is $64 per share on the date of grant. The period of benefit is 2 years. Prepare Splish's journal entries for December 31, 2025 and 2026. (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 O for the amounts. Record journal entries in the order presented in the problem.) Date 12/31/25 12/31/26 12/31/26 2/31 12/31/25 12/31/26 12/31/26 Account Titles and Explanation Unearned Compensation Paid-in Capital in Excess of Par - Common Stock Compensation Expense Unearned Compensation (To record compensation expense) Compensation Expense Unearned Compensation Paid-in Capital in Excess of Par - Common Stock Compensation Expense Unearned Compensation (To record compensation expense) Compensation Expense (To record transfer of common stock) Debit 000 00000 Credit

On January 1, 2025, Splish Corporation granted 1,800 shares of restricted-stock units. The par value of the stock is $5 per share. The market price (fair value) of the stock is $64 per share on the date of grant. The period of benefit is 2 years. Prepare Splish's journal entries for December 31, 2025 and 2026. (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 O for the amounts. Record journal entries in the order presented in the problem.) Date 12/31/25 12/31/26 12/31/26 2/31 12/31/25 12/31/26 12/31/26 Account Titles and Explanation Unearned Compensation Paid-in Capital in Excess of Par - Common Stock Compensation Expense Unearned Compensation (To record compensation expense) Compensation Expense Unearned Compensation Paid-in Capital in Excess of Par - Common Stock Compensation Expense Unearned Compensation (To record compensation expense) Compensation Expense (To record transfer of common stock) Debit 000 00000 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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Need help questions 2 and 3.