The Josh Cutler Corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares January 1, 2024, which vest in four years. The fair value of the shares is $14.90. No forfeitures are anticipated. Ignore taxes. Required: 1. Determine the total compensation cost pertaining to the restricted stock. 2. & 3. Prepare the appropriate journal entries (if any). Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Determine the total compensation cost pertaining to the restricted stock. Note: Enter your answer in millions (1.e., 10,000,000 should be entered as 10). Total compensation cost million
The Josh Cutler Corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares January 1, 2024, which vest in four years. The fair value of the shares is $14.90. No forfeitures are anticipated. Ignore taxes. Required: 1. Determine the total compensation cost pertaining to the restricted stock. 2. & 3. Prepare the appropriate journal entries (if any). Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Determine the total compensation cost pertaining to the restricted stock. Note: Enter your answer in millions (1.e., 10,000,000 should be entered as 10). Total compensation cost million
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
Chapter10: Property, Plant And Equipment: Acquisition And Subsequent Investments
Section: Chapter Questions
Problem 6C
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The Josh Cutler Corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares on
January 1, 2024, which vest in four years. The fair value of the shares is $14.90. No forfeitures are anticipated. Ignore taxes.
Required:
1. Determine the total compensation cost pertaining to the restricted stock.
2. & 3. Prepare the appropriate journal entries (if any).
Complete this question by entering your answers in the tabs below.
Req 1
Req 2 and 3
Determine the total compensation cost pertaining to the restricted stock.
Note: Enter your answer in millions (l.e., 10,000,000 should be entered as 10).
Total compensation cost
million
< Req 1
Req 2 and 3 >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa9bfc111-6052-4ef1-8c67-30b6c82e465e%2F08e5a6c7-fbcf-4c4d-af73-9f94dbca5570%2F1f3hh4m_processed.png&w=3840&q=75)
Transcribed Image Text:9
The Josh Cutler Corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares on
January 1, 2024, which vest in four years. The fair value of the shares is $14.90. No forfeitures are anticipated. Ignore taxes.
Required:
1. Determine the total compensation cost pertaining to the restricted stock.
2. & 3. Prepare the appropriate journal entries (if any).
Complete this question by entering your answers in the tabs below.
Req 1
Req 2 and 3
Determine the total compensation cost pertaining to the restricted stock.
Note: Enter your answer in millions (l.e., 10,000,000 should be entered as 10).
Total compensation cost
million
< Req 1
Req 2 and 3 >
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