Samsong Company issued 100,000 shares of $1 par value, restricted stock to its top five key employees
Question:
Samsong Company issued 100,000 shares of $1 par value, restricted stock to its top five key employees on January 1, 2021. The market value of Samsong’s shares is $45 per share on the date of issue. The restricted shares require a vesting period of 4 years. Prepare the journal entries for the first year.
Step by Step Answer:
Samsong makes the following entry on the date of the grant of the ...View the full answer
Intermediate Accounting
ISBN: 9780136946694
3rd Edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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