Restricted stock : These are the share-based awards provided as compensation plans provided as incentives to the employees which include right to receive the shares and are restricted to employees’ extended tenure. The two variants of restricted stock are restricted stock awards, and restricted stock units. Restricted stock units (RSUs) : RSU is a right of the employee to receive a certain number of shares of stock of the company as a performance incentive, or usual compensation, or signing bonus. To determine : The compensation cost of RSUs

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Answer 1

Question

Chapter 19, Problem 19.2E

(1)

To determine

Restricted stock: These are the share-based awards provided as compensation plans provided as incentives to the employees which include right to receive the shares and are restricted to employees’ extended tenure. The two variants of restricted stock are restricted stock awards, and restricted stock units.

Restricted stock units (RSUs): RSU is a right of the employee to receive a certain number of shares of stock of the company as a performance incentive, or usual compensation, or signing bonus.

To determine: The compensation cost of RSUs

(2)

To determine

To prepare: Journal entry for the RSUs awarded on January 1, 2018

(3)

To determine

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The entry for compensation expense on December 31, 2018

(4)

To determine

To journalize: The entry for compensation expense on December 31, 2019

(5)

To determine

To journalize: The entry for compensation expense on December 31, 2020

(6)

To determine

To journalize: The entry for recording restrictions lifted as on December 31, 2020

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Nobel Corp. uses a predetermined overhead rate based on direct labor cost to apply manufacturing overhead to jobs. For the year ended December 31, Nobel's estimated manufacturing overhead was $800,000, based on an estimated volume of 40,000 direct labor hours, at a direct labor rate of $8.00 per hour. Actual manufacturing overhead amounted to $850,000, with an actual direct labor cost of $360,000. For the year, what was manufacturing overhead?

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Answer 2

Question

Chapter 19, Problem 19.2E

(1)

To determine

Restricted stock: These are the share-based awards provided as compensation plans provided as incentives to the employees which include right to receive the shares and are restricted to employees’ extended tenure. The two variants of restricted stock are restricted stock awards, and restricted stock units.

Restricted stock units (RSUs): RSU is a right of the employee to receive a certain number of shares of stock of the company as a performance incentive, or usual compensation, or signing bonus.

To determine: The compensation cost of RSUs

(2)

To determine

To prepare: Journal entry for the RSUs awarded on January 1, 2018

(3)

To determine

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The entry for compensation expense on December 31, 2018

(4)

To determine

To journalize: The entry for compensation expense on December 31, 2019

(5)

To determine

To journalize: The entry for compensation expense on December 31, 2020

(6)

To determine

To journalize: The entry for recording restrictions lifted as on December 31, 2020

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Answer 3

Question

Chapter 19, Problem 19.2E

(1)

To determine

Restricted stock: These are the share-based awards provided as compensation plans provided as incentives to the employees which include right to receive the shares and are restricted to employees’ extended tenure. The two variants of restricted stock are restricted stock awards, and restricted stock units.

Restricted stock units (RSUs): RSU is a right of the employee to receive a certain number of shares of stock of the company as a performance incentive, or usual compensation, or signing bonus.

To determine: The compensation cost of RSUs

(2)

To determine

To prepare: Journal entry for the RSUs awarded on January 1, 2018

(3)

To determine

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The entry for compensation expense on December 31, 2018

(4)

To determine

To journalize: The entry for compensation expense on December 31, 2019

(5)

To determine

To journalize: The entry for compensation expense on December 31, 2020

(6)

To determine

To journalize: The entry for recording restrictions lifted as on December 31, 2020

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Answer 4

Question

Chapter 19, Problem 19.2E

(1)

To determine

Restricted stock: These are the share-based awards provided as compensation plans provided as incentives to the employees which include right to receive the shares and are restricted to employees’ extended tenure. The two variants of restricted stock are restricted stock awards, and restricted stock units.

Restricted stock units (RSUs): RSU is a right of the employee to receive a certain number of shares of stock of the company as a performance incentive, or usual compensation, or signing bonus.

To determine: The compensation cost of RSUs

(2)

To determine

To prepare: Journal entry for the RSUs awarded on January 1, 2018

(3)

To determine

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The entry for compensation expense on December 31, 2018

(4)

To determine

To journalize: The entry for compensation expense on December 31, 2019

(5)

To determine

To journalize: The entry for compensation expense on December 31, 2020

(6)

To determine

To journalize: The entry for recording restrictions lifted as on December 31, 2020

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Answer 5

Chapter 19, Problem 19.2E

(1)

To determine

Restricted stock: These are the share-based awards provided as compensation plans provided as incentives to the employees which include right to receive the shares and are restricted to employees’ extended tenure. The two variants of restricted stock are restricted stock awards, and restricted stock units.

Restricted stock units (RSUs): RSU is a right of the employee to receive a certain number of shares of stock of the company as a performance incentive, or usual compensation, or signing bonus.

To determine: The compensation cost of RSUs

(2)

To determine

To prepare: Journal entry for the RSUs awarded on January 1, 2018

(3)

To determine

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The entry for compensation expense on December 31, 2018

(4)

To determine

To journalize: The entry for compensation expense on December 31, 2019

(5)

To determine

To journalize: The entry for compensation expense on December 31, 2020

(6)

To determine

To journalize: The entry for recording restrictions lifted as on December 31, 2020

Answer 6

Chapter 19, Problem 19.2E

(1)

To determine

Restricted stock: These are the share-based awards provided as compensation plans provided as incentives to the employees which include right to receive the shares and are restricted to employees’ extended tenure. The two variants of restricted stock are restricted stock awards, and restricted stock units.

Restricted stock units (RSUs): RSU is a right of the employee to receive a certain number of shares of stock of the company as a performance incentive, or usual compensation, or signing bonus.

To determine: The compensation cost of RSUs

Answer 7

Chapter 19, Problem 19.2E

(1)

To determine

Restricted stock: These are the share-based awards provided as compensation plans provided as incentives to the employees which include right to receive the shares and are restricted to employees’ extended tenure. The two variants of restricted stock are restricted stock awards, and restricted stock units.

Restricted stock units (RSUs): RSU is a right of the employee to receive a certain number of shares of stock of the company as a performance incentive, or usual compensation, or signing bonus.

To determine: The compensation cost of RSUs

Answer 8

(2)

To determine

To prepare: Journal entry for the RSUs awarded on January 1, 2018

Answer 9

(2)

To determine

To prepare: Journal entry for the RSUs awarded on January 1, 2018

Answer 10

(3)

To determine

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The entry for compensation expense on December 31, 2018

Answer 11

(3)

To determine

Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The entry for compensation expense on December 31, 2018

Answer 12

(4)

To determine

To journalize: The entry for compensation expense on December 31, 2019

Answer 13

(4)

To determine

To journalize: The entry for compensation expense on December 31, 2019

Answer 14

(5)

To determine

To journalize: The entry for compensation expense on December 31, 2020

Answer 15

(5)

To determine

To journalize: The entry for compensation expense on December 31, 2020

Answer 16

(6)

To determine

To journalize: The entry for recording restrictions lifted as on December 31, 2020

Answer 17

(6)

To determine

To journalize: The entry for recording restrictions lifted as on December 31, 2020

Answer 18

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Answer 19

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Answer 20

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Answer 21

Ch. 19 - Prob. 19.1Q Ch. 19 - Prob. 19.2Q Ch. 19 - The Tax Code differentiates between qualified...Ch. 19 - Stock option (and other share-based) plans often...Ch. 19 - What is a simple capital structure? How is EPS...Ch. 19 - Prob. 19.6Q Ch. 19 - Blake Distributors had 100,000 common shares...Ch. 19 - Why are preferred dividends deducted from net...Ch. 19 - Prob. 19.9Q Ch. 19 - The treasury stock method is used to incorporate...

To prepare: Journal entry for the RSUs awarded on January 1, 2018

To journalize: The entry for compensation expense on December 31, 2019

To journalize: The entry for compensation expense on December 31, 2020

To journalize: The entry for recording restrictions lifted as on December 31, 2020

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Chapter 19 Solutions