ACC 304 All Assignments ACC 304 All Assignments | Page 63
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 Issued 142,000 shares
March 1 Issued a 10% stock dividend
May 1 Acquired 115,000 shares of treasury stock
June 1 Issued a 3-for-1 stock split
October 1
Reissued 67,800 shares of treasury stock