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Kiki Company issued 85,000 shares of restricted stock with a par value of $10 per...

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Accounting

Kiki Company issued 85,000 shares of restricted stock with a par value of $10 per share when the fair value of the stock was $750,000. A 3-year service period is required for vesting. The journal entry at the end of the first year includes a

a. credit to Cash of 85,000 x $10.

b. credit to Common Stock of 85,000 x $10 x 1/3

c.debit to Unearned Compensation of $750,000 x 1/3

d. debit to Compensation expense of $750,000 x 1/3.

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