On January 1, 2015 (the date of grant), Lutz Corporation issues 2,000 restricted shares to its executives.
Question:
On January 1, 2015 (the date of grant), Lutz Corporation issues 2,000 restricted shares to its executives.
The fair value of these shares is $75,000, and their par value is $10,000. The shares are forfeited if the executives do not complete 3 years of employment with the company. Prepare the journal entry (if any) on January 1, 2015, and on December 31, 2015, assuming the service period is 3 years.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Intermediate Accounting IFRS Edition
ISBN: 9781118443965
2nd Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Question Posted: