Prepare the relevant journal entries for the grant

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Elvis Limited grants to each of its 10 executives a choice of receiving a cash payment equivalent to 1,000 shares or receiving 1,200 shares. The grant is conditional on the completion of 3 years' service with the company. If the share alternative is chosen, the shares must be held for 2 years after vesting date. At the grant date the company's share price is $25 per share. At the end of years 1, 2 and 3, the share price is $27, $28 and $30 respectively. The fair value of the share is $24 per share at grant date.

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Problem 1: Prepare the relevant journal entries for the above grant.

Reference no: EM132883092

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