On January 1, 2025 (the date of grant), Waterway Corporation issues 1,800 shares of restricted stock to its executives. The fair valu of these shares is $99,000, and their par value is $9,000. The stock is forfeited if the executives do not complete 3 years of employment with the company. Prepare journal entries for January 1, 2025, and on December 31, 2025, assuming the service period is 3 years. (List all debit entr before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If 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 Account Titles and Explanation Debit Credit
On January 1, 2025 (the date of grant), Waterway Corporation issues 1,800 shares of restricted stock to its executives. The fair valu of these shares is $99,000, and their par value is $9,000. The stock is forfeited if the executives do not complete 3 years of employment with the company. Prepare journal entries for January 1, 2025, and on December 31, 2025, assuming the service period is 3 years. (List all debit entr before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If 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 Account Titles and Explanation Debit Credit
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 8RE: On January 2, 2019, Brust Corporation grants its new CFO 2,000 restricted share units. Each of the...
Related questions
Question
![On January 1, 2025 (the date of grant), Waterway Corporation issues 1,800 shares of restricted stock to its executives. The fair value
of these shares is $99,000, and their par value is $9,000. The stock is forfeited if the executives do not complete 3 years of
employment with the company.
Prepare journal entries for January 1, 2025, and on December 31, 2025, assuming the service period is 3 years. (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 journal entries in the order
presented in the problem.)
Account Titles and Explanation
Date
:
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F19b86458-74da-44e5-9baf-8d3532992930%2F5207a7be-eb36-4e4c-95a8-f3d54a74b54f%2Fa4w3r3_processed.png&w=3840&q=75)
Transcribed Image Text:On January 1, 2025 (the date of grant), Waterway Corporation issues 1,800 shares of restricted stock to its executives. The fair value
of these shares is $99,000, and their par value is $9,000. The stock is forfeited if the executives do not complete 3 years of
employment with the company.
Prepare journal entries for January 1, 2025, and on December 31, 2025, assuming the service period is 3 years. (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 journal entries in the order
presented in the problem.)
Account Titles and Explanation
Date
:
Debit
Credit
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT