Question
On January 1, 2017, Martinez Corporation granted 2,200 shares of restricted $5 par value common stock...
On January 1, 2017, Martinez Corporation granted 2,200 shares of restricted $5 par value common stock to executives. The market price (fair value) of the stock is $65 per share on the date of grant. The period of benefit is 2 years.
Prepare Martinez’s journal entries for January 1, 2017, and December 31, 2017 and 2018. (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.)
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1/1/1712/31/1712/31/18Answers
solution Jan 1, 2017 143000 beferred compensation expense ( 2200X65) Common stock, 5 par (2200 85) Addetional paid in capital common 11000 -stock 132000 Dec 31,17 compensation expense (143000/2) Deferred compensation expense 71500 71500 Dec 31, 18 71500 Compensation experse Deferred compersation experse 71500
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