Marin Company issues 4,400 shares of restricted stock to its CFO,
Dane Yaping, on January 1, 2017. The stock has a fair value of
$130,000 on this date. The service period related to this
restricted stock is 4 years. Vesting occurs if Yaping stays with
the company for 4 years. The par value of the stock is $4. At
December 31, 2018, the fair value of the stock is $135,000.
(a) Prepare the journal entries to record the restricted stock on January 1, 2017 (the date of grant), and December 31, 2018. (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.)
Date
Account Titles and Explanation
Debit
Credit
(b) On March 4, 2019, Yaping 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.)
Date
Account Titles and Explanation
Debit
Credit
3/4/19
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