Listed below are transactions dealing with various stock benefit plans of Fortune-Time Corporation during the period 2009-2011. The market price of the stock is $45 at January 1, 2009.

a. On Jan. 1,09, the company issued 10 million common shares to divisional managers under its restricted stock award plan. The shares are subject to forfeiture if employment is terminated within three years.

b. On Jan. 1,09, the comp. granted incentive stock options to its senior management exercisable for 1.5 million common shares. The options must be exercised within 5 years, but not before Jan. 1,10. The exercise of the stock options is equal to the fair market value on the CS on the date of options are granted. An option pricing model estimates the fair value of the options to be $4 per option. All recipients are expected to remain employed through the vesting date.

c. On jan. 1,09, the company granted 4 million Stock Appreciation Right's (SAR's) to its junior managers. The SAR's entitle managers to receive their choice of cash or stock equal in value to the excess of the market price at exercise over the share price at the date of grant. The SAR's vest at the end of 2010 ( can not be exercise until then)and expire at the end of 2011. The fair value of the SAR's is $4 at jan.1,08. The fair value is $5 and $4 at Dec. 31,10, respectively.

d. Recorded compensation expense on Dec. 31, 09.

e. A divisional manager holding 1 million of the restricted shares left the company to become CEO of a competitor on Sep. 15,09, before the required service period ended.

f. Recorded compensation expense on Dec. 31,09

Required:

Prepare the Journal entries that Fortune-Time recorded for each of these transactions. (Ignore any tax effects).