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Coronado Company issues 11,200 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2025. 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, 2029. The par value of the stock is $10. At December 31, 2025, the fair value of the stock is $321,000. Prepare the journal entries to record the restricted stock on January 1, 2025 (the date of grant), and December 31, 2026. (List all debit entries before credit entries. 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 O for the amounts. Record entries in the order displayed in the problem statement.) Date Jan. 1,2025 Dec 31, 2026 Account Titles and Explanation Debit Credit

Coronado Company issues 11,200 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2025. 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, 2029. The par value of the stock is $10. At December 31, 2025, the fair value of the stock is $321,000. Prepare the journal entries to record the restricted stock on January 1, 2025 (the date of grant), and December 31, 2026. (List all debit entries before credit entries. 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 O for the amounts. Record entries in the order displayed in the problem statement.) Date Jan. 1,2025 Dec 31, 2026 Account Titles and Explanation Debit Credit

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 23E
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Coronado Company issues 11,200 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2025. 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, 2029. The par value of the stock is $10. At December 31, 2025, the fair value of the stock is $321,000. Prepare the journal entries to record the restricted stock on January 1, 2025 (the date of grant), and December 31, 2026. (List all debit entries before credit entries. 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 O for the amounts. Record entries in the order displayed in the problem statement.) Date Jan. 1,2025 Dec. 31, 2026 Account Titles and Explanation Show Transcribed Text Date Account Titles and Explanation July 25, 2029 On July 25, 2029, Tokar leaves the company. Prepare the journal entry to account for this forfeiture. (List debit entry before credit entry. 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 O for the amounts. List all debit entries before credit entries.) v Transcribed Text Date d Text Debit Debit Prepare the journal entries on January 1, 2025, and December 31, 2026, assuming that Coronado issued 11,200 shares of restricted stock units instead of 11,200 shares of restricted stock. (List all debit entries before credit entries. 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 O for the amounts. Record entries in the order displayed in the problem statement.) Account Titles and Explanation Date Account Titles and Explanation July 25, 2029 Credit Debit Debit Credit On July 5, 2029, Tokar leaves the company. Prepare the journal entry to account for this forfeiture of restricted stock units. (List debit entry before credit entry. 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 O for the amounts) Credit Credit
Transcribed Image Text:Coronado Company issues 11,200 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2025. 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, 2029. The par value of the stock is $10. At December 31, 2025, the fair value of the stock is $321,000. Prepare the journal entries to record the restricted stock on January 1, 2025 (the date of grant), and December 31, 2026. (List all debit entries before credit entries. 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 O for the amounts. Record entries in the order displayed in the problem statement.) Date Jan. 1,2025 Dec. 31, 2026 Account Titles and Explanation Show Transcribed Text Date Account Titles and Explanation July 25, 2029 On July 25, 2029, Tokar leaves the company. Prepare the journal entry to account for this forfeiture. (List debit entry before credit entry. 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 O for the amounts. List all debit entries before credit entries.) v Transcribed Text Date d Text Debit Debit Prepare the journal entries on January 1, 2025, and December 31, 2026, assuming that Coronado issued 11,200 shares of restricted stock units instead of 11,200 shares of restricted stock. (List all debit entries before credit entries. 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 O for the amounts. Record entries in the order displayed in the problem statement.) Account Titles and Explanation Date Account Titles and Explanation July 25, 2029 Credit Debit Debit Credit On July 5, 2029, Tokar leaves the company. Prepare the journal entry to account for this forfeiture of restricted stock units. (List debit entry before credit entry. 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 O for the amounts) Credit Credit
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