Help please! Brief Exercise 16-7 On January 1, 2017, Bonita Corporation granted

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Help please!

Brief Exercise 16-7 On January 1, 2017, Bonita Corporation granted 1,800 shares of restricted 5 par value common stock to executives. The market price (fair value) of the stock is $67 per share on the date of grant. The period of benefit is 2 years. r care s Prepare Bonita'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 O for the amounts.,) Date Account Titles and Explanation Debit Credit

Explanation / Answer

Jan-1-17 Unearned Compensation 120600 =1800*67         Paid-in Capital in Excess of Par 111600         Common Stock 9000 =1800*5 Dec-31-17 Compensation Expense 60300 =120600/2       Unearned Compensation 60300 Dec-31-18 Compensation Expense 60300       Unearned Compensation 60300

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