restricted stock is 5 years. Vesting occurs if Tokar stays with the company until December 31, 2018. The par value of the stock is $ 10. At December 31, 2014, the fair value of the stock is $ 481,300.
( a) Prepare the journal entries to record the restricted stock on January 1, 2014( the date of grant), and December 31, 2015.( 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.)
( b) On July 25, 2018, 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.)
7) On January 1, 2015, Wilke Corp. had 501,000 shares of common stock outstanding. During 2015, it had the following transactions that affected the Common Stock account.
February 1 March 1 May 1 June 1 October 1
Issued 142,000 shares Issued a 10 % stock dividend Acquired 115,000 shares of treasury stock Issued a 3-for-1 stock split
Reissued 67,800 shares of treasury stock