On January Vijay Communications granted restricted stock units RSUs representing million of its $ par common shares to executives, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares.
The common shares had a market price of $ per share on the grant date.
At the date of grant, Vijay anticipated that of the recipients would leave the firm prior to vesting.
On January of the RSUs are forfeited due to executive turnover.
Vijay chooses the option to account for forfeitures when they actually occur.
Required:
to Prepare the appropriate journal entries to record compensation expense on December December and December
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions ie should be entered as
Journal entry worksheet
Record the entry for compensation expense on December
Note: Enter debits before credits.
