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Home / Questions / Question 1 Shamrock Company issues 4,100 shares of restricted stock to itsCFO, Dane Yapin...

Question 1 Shamrock Company issues 4,100 shares of restricted stock to itsCFO, Dane Yaping, on January 1, 2017. The stock has a fair value of$118,000 on this date. The service period related to this

Question 1

Shamrock Company issues 4,100 shares of restricted stock to itsCFO, Dane Yaping, on January 1, 2017. The stock has a fair value of$118,000 on this date. The service period related to thisrestricted stock is 4 years. Vesting occurs if Yaping stays withthe company for 4 years. The par value of the stock is $5. AtDecember 31, 2018, the fair value of the stock is $151,000.

(a) Prepare the journal entries to record therestricted stock on January 1, 2017 (the date of grant), andDecember 31, 2018. (Credit account titles areautomatically indented when amount is entered. Do not indentmanually. If no entry is required, select "No Entry" for theaccount titles and enter 0 for the amounts.)

(b) On March 4, 2019, Yaping leaves thecompany. Prepare the journal entry to account for this forfeiture.(Credit account titles are automatically indented whenamount is entered. Do not indent manually. If no entry is required,select "No Entry" for the account titles and enter 0 for theamounts.)

Jun 10 2021 View more View Less

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