Business, 24.04.2020 20:36 alizeleach0123
Magnetic-Optical Corporation offers a variety of share-based compensation plans to employees. Under its restricted stock unit plan, the company on January 1, 2018, granted restricted stock units (RSUs) representing 19 millionof its $1 par common shares to various division managers. The shares are subject to forfeiture if employment is terminated within three years. The common shares have a market price of $6.00 per share on the grant date. Management’s policy is to estimate forfeitures. Required:1. Determine the total compensation cost pertaining to the RSUs.2. & 3. Prepare the appropriate journal entries.
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