Question

Decibee, Inc. has a restricted stock award plan for its employees. It grants 220,000 of its
$2.00 par common stock to its selected employees on January 1, 2014 with a vesting
period of two years.
The day after the vesting date, the restricted stock is converted into common stock
The market rate of the stock on January 1, 2014 is $7.30 per share
Record the general journal entry for January 2, 2016

Answer 1

Answer:-

In manual bookkeeping or accounting frameworks, business exchanges are first recorded in a journal...hence the term diary passage.

Diary passages that are recorded in an organization's general diary will comprise of the accompanying:

the suitable date

the account(s) and amount(s) that will be charged

the account(s) and amount(s) that will be credited

a short depiction/notice/reference

The diary passages show up in a diary all together by date and are then presented on the fitting records in the general record.

Modernized bookkeeping frameworks will naturally record a large portion of the business exchanges into the general record accounts following the product readies the business solicitations, issues checks to lenders, forms receipts from clients, and so on. Thus, we won't compose diary sections for the vast majority of the business exchanges.