Homework Answers
| Date | Accounts | Dr. | Cr. |
| 1/1/2021 | Deferred Compensation Expense | 75000 | |
| Common Stock | 75000 | ||
| 12/31/2021 | Compensation Expense | 37500 | |
| Deferred Compensation Expense | 37500 | ||
| 2/18/2022 | Common Stock | 15000 | |
| Deferred Compensation Expense | 15000 | ||
| 12/31/2022 | Compensation Expense | 22500 | |
| Deferred Compensation Expense | 22500 | ||
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Q2. On January 01, 2021, Alex Company granted restricted stock to five executives. Each executive received...
Q2. On January 01, 2021, Alex Company granted restricted stock to five executives. Each executive received...
Q2. On January 01, 2021, Alex Company granted restricted stock to five executives. Each executive received 1.500 shares of Alex common stock. The restricted shares vest on January 23; thus, the restricted shares are compensation for services rendered during 2021 and 2022. The restricted shares had a grant date value of share x 1,500 shares per executive x 5 executives). On February 18, 2022, one executive forfeited her restricted shares because she left Alex to join another company's executive team....
Q2. On January 01, 2021, Alex Company granted restricted stock to five executives. Each executive received...
Q2. On January 01, 2021, Alex Company granted restricted stock to five executives. Each executive received 1,500 shares of Alex common stock. The restricted shares vest on January 01, 2023; thus, the restricted shares are compensation for services rendered during 2021 and 2022. The restricted shares had a grant date value of $75,000 (= $10 fair value per common share x 1,500 shares per executive x 5 executives). On February 18, 2022, one executive forfeited her restricted shares because she...
Q2. On January 01, 2021, Alex Company granted restricted stock to five executives. Each executive received...
Q2. On January 01, 2021, Alex Company granted restricted stock to five executives. Each executive received 1,500 shares of Alex common stock. The restricted shares vest on January 01, 2023; thus, the restricted shares are compensation for services rendered during 2021 and 2022. The restricted shares had a grant date value of $75,000 (= $10 fair value per common share x 1,500 shares per executive x 5 executives). On February 18, 2022, one executive forfeited her restricted shares because she...
Under its executive stock option plan, National Corporation granted 12 million options on January 1, 2021,...
Under its executive stock option plan, National Corporation granted 12 million options on January 1, 2021, that permit executives to purchase 12 million of the company's $1 par common shares within the next six years, but not before December 31, 2023 (the vesting date). The exercise price is the market price of the shares on the date of grant, $20 per share. The fair value of the options, estimated by an appropriate option pricing model, is $2 per option. Suppose...
On January 1, 2021, Wendy Day Co, granted stock options to key executives exercisable for 519,000...
On January 1, 2021, Wendy Day Co, granted stock options to key executives exercisable for 519,000 shares of the company's common stock at $19 per share. The stock options are intended as compensation for the next five years. The options are exercisable within a four-year period beginning January 1, 2025, by the executives still in the employ of the company. No options were terminated during 2021, but the company anticipates 6% forfeitures over the life of the stock options. The...
On January 1, 2021, M Company granted 96,000 stock options to certain executives. The options are...
On January 1, 2021, M Company granted 96,000 stock options to certain executives. The options are exercisable no sooner than December 31, 2023, and expire on January 1, 2027. Each option can be exercised to acquire one share of $1 par common stock for $9. An option-pricing model estimates the fair value of the options to be $3 on the date of grant. What amount should M recognize as compensation expense for 2021? ---- On January 1, 2021, M Company...
The Peach Corporation provides restricted stock to certain executives. Under the plan, the company granted 30...
The Peach Corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares on January 1, 2018, which vest in four years. The fair value of the shares is $13.3. 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). 2) Record the award of restricted stock on January 1, 2018. 3) Record compensation expense on December...
On January 1, 2018, Marguerite DeVille Co. granted restricted stock units (RSUs) representing 300,000 of its...
On January 1, 2018, Marguerite DeVille Co. granted restricted stock units (RSUs) representing 300,000 of its $1 par common shares to executives, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. The common shares had a market price of $12 per share on the grant date. At the date of grant, DeVille anticipated that 6% of the recipients would leave the firm prior...
The Peach Corporation provides restricted stock to certain executives. Under the plan, the company granted 30...
The Peach Corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares on January 1, 2018, which vest in four years. The fair value of the shares is $14.4. 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). Record the award of restricted stock on Jan 1, 2018 Record compensation expense on Dec 31, 2018
E16 13B (L0 3) (Accounting for Restricted Stock) Holt Company issues 10,000 shares of restricted stock...
E16 13B (L0 3) (Accounting for Restricted Stock) Holt Company issues 10,000 shares of restricted stock to its new CEO, on January 1, 2020. The stock has a fair value of $260,000 on this date. The service period related to this restricted stock is 5 years. Vesting occurs if the CEO stays with the company for 5 years. The par value of the stock is $1. At December 31, 2021, the fair value of the stock is $180,000. Instructions (a)...
Q2. On January 01, 2021, Alex Company granted restricted stock to five executives. Each executive received 1.500 shares of Alex common stock. The restricted shares vest on January 23; thus, the restricted shares are compensation for services rendered during 2021 and 2022. The restricted shares had a grant date value of share x 1,500 shares per executive x 5 executives). On February 18, 2022, one executive forfeited her restricted shares because she left Alex to join another company's executive team....
Q2. On January 01, 2021, Alex Company granted restricted stock to five executives. Each executive received 1,500 shares of Alex common stock. The restricted shares vest on January 01, 2023; thus, the restricted shares are compensation for services rendered during 2021 and 2022. The restricted shares had a grant date value of $75,000 (= $10 fair value per common share x 1,500 shares per executive x 5 executives). On February 18, 2022, one executive forfeited her restricted shares because she...
Q2. On January 01, 2021, Alex Company granted restricted stock to five executives. Each executive received 1,500 shares of Alex common stock. The restricted shares vest on January 01, 2023; thus, the restricted shares are compensation for services rendered during 2021 and 2022. The restricted shares had a grant date value of $75,000 (= $10 fair value per common share x 1,500 shares per executive x 5 executives). On February 18, 2022, one executive forfeited her restricted shares because she...
Under its executive stock option plan, National Corporation granted 12 million options on January 1, 2021, that permit executives to purchase 12 million of the company's $1 par common shares within the next six years, but not before December 31, 2023 (the vesting date). The exercise price is the market price of the shares on the date of grant, $20 per share. The fair value of the options, estimated by an appropriate option pricing model, is $2 per option. Suppose...
On January 1, 2021, Wendy Day Co, granted stock options to key executives exercisable for 519,000 shares of the company's common stock at $19 per share. The stock options are intended as compensation for the next five years. The options are exercisable within a four-year period beginning January 1, 2025, by the executives still in the employ of the company. No options were terminated during 2021, but the company anticipates 6% forfeitures over the life of the stock options. The...
The Peach Corporation provides restricted stock to certain executives. Under the plan, the company granted 30 million shares on January 1, 2018, which vest in four years. The fair value of the shares is $13.3. 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). 2) Record the award of restricted stock on January 1, 2018. 3) Record compensation expense on December...
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