The two original shareholders of a llc issued 40000 shares, Ask an Expert

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The two original shareholders of a LLC issued 40,000 shares of common stock to a valued employee (vice-president of marketing) who was being wooed by a rival company. The employee is prohibited from selling the shares for 5 years and did sign a non-compete agreement. Recall that the stock has a par value of $0.50 per share. However, the original partners estimate that the shares have a market value of $25 per share.

Prepare the necessary journal entries.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91977683

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