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Category > Accounting Posted 09 May 2017 My Price 10.00

Coronado Company issues

Coronado Company issues 11,200 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2017.
The stock has a fair value of $560,000 on this date. The service period related to this restricted stock is
5 years. Vesting occurs if Tokar stays with the company until December 31, 2021. The par value of the
stock is $10. At December 31, 2017, the fair value of the stock is $321,000.
(a) Prepare the journal entries to record the restricted stock on January 1, 2017 (the date of grant),
and December 31, 2018. (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.)
Date Account Titles and
Explanation Debit Credit (b) On July 25, 2021, Tokar leaves the company. Prepare the journal entry to account for this
forfeiture. (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.)
Date
7/25/21 Account Titles and
Explanation Debit Credit

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Answers

SuperTutor
(15)
Status NEW Posted 09 May 2017 08:05 AM My Price 10.00

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