(Solved): Exercise 19-1 (Algo) Restricted stock award plan [LO19-1] Allied Paper Products, Inc, offers a rest ...

Exercise 19-1 (Algo) Restricted stock award plan [LO19-1] Allied Paper Products, Inc, offers a restricted stock award plan to its vice presidents. On January 1, 2021, the company granted 18 million of its $\$1$ par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market price of $\$6$ per share on the grant date. Required: 1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December $31,2022$. Complete this question by entering your answers in the tabs below. Prepare the appropriate joumal entries related to the restricted stock through December 31, 2022. (If no entry is required for a transaction/event, select "No fournal entry required" in the first account field. Enter your answers in millions (1.e,, 10,000,000 should be entered as 10).) Journal entry worksheet Exercise 19-1 (Algo) Restricted stock award plan [LO19-1] Allied Paper Products, Inc., offers a restricted stock award plan to its vice presidents. On January 1, 2021, the company granted 18 million of its $\$1$ par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market price of $\$6$ per share on the grant date. Required: 1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December $31,2022$. Complete this question by entering your answers in the tabs below. Determine the total compensation cost pertaining to the restricted shares. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).) Prepare the appropriate journal entries related to the restricted stock through December 31,2022 . (If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Journal entry worksheet Prepare the appropriate journal entries related to the restricted stock through December 31,2022 . (If no entry is required for a transaction/event, select "No Joumal entry required" in the first account fleld. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Journal entry worksheet Prepare the appropriate journal entries related to the restricted stock through December 31,2022 . (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field. Enter your answers in milions (l.e., 10,000,000 should be entered as 10), ) Journal entry worksheet Note: Enter debits before credis.