Brief Exercise 16-7 On January 1, 2017, Sheffield Corporation granted 1,900 shares of restricted $5...
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Brief Exercise 16-7 On January 1, 2017, Sheffield Corporation granted 1,900 shares of restricted $5 par value common stock to executives. The market price (fair value) of the stock is $66 per share on the date of grant. The period of benefit is 2 years. Prepare Sheffields journal entries for January 1, 2017, and December 31, 2017 and 2018.
| Account Titles | Debit | Credit | |
| 1/1/2017 | ? | ||
| ? | |||
| ? | |||
| 12/31/2017 | ? | ||
| ? | |||
| 12/31/2018 | ? | ||
| ? |
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