Allied Paper Products, Inc., offers a restricted stock award
plan to its vice presidents. On January 1, 2018, the company
granted 15 million of its $1 par common shares, subject to
forfeiture if employment is terminated within two years. The common
shares have a market price of $6 per share on the grant date.
1. Determine the total compensation cost
pertaining to the restricted shares.
2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2019.
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