On january 1 2014 the date of grant lutz corporation issues, Ask an Expert

Accounting

On January 1, 2014 (the date of grant), Lutz Corporation issues 2,780 shares of restricted stock to its executives. The fair value of these shares is $78,300, and their par value is $11,400. The stock is forfeited if the executives do not complete 3 years of employment with the company.

Prepare journal entries for January 1, 2014, and on December 31, 2014, assuming the service period is 3 years.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91964062

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