On January 1 2014 the date of grant Lutz Corporation issues 2 360 shares of restricted stock to its executives The fair value of these shares is 76 500 and their par value is 11 700 The stock is forfeited if the executives do not complete 3 years of employment with the company

Prepare the journal entry (if any) on January 1, 2014, and on December 31, 2014, assuming the service period is 3 years?

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On January 1 2014 the date of grant Lutz Corporation issues 2360 shares of restricted stock to its e... View the full answer