Question: nash company issues 11200 shares of restricted stock to its...
Nash Company issues 11,200 shares of restricted stock
to its CFO, Mary Tokar, on January 1, 2017. The stock has a fair
value of $ 560,000 on this date. The service period related to this
restricted stock is 5 years. Vesting occurs if Tokar stays with the
company until December 31, 2021. The par value of the stock is $
10. At December 31, 2017, the fair value of the stock is $
(a) Prepare the journal entries to record the restricted stock on January 1, 2017 (the date of grant), and December 31, 2018.
(b) On July 25, 2021, Tokar leaves the company. Prepare the journal entry to account for this forfeiture.