Question
A corporation, which had 26,000 shares of common stock outstanding, declared a 3-for-1 stock split. a. What will be the number of shares outstanding after
A corporation, which had 26,000 shares of common stock outstanding, declared a 3-for-1 stock split.
a. What will be the number of shares outstanding after the split? fill in the blank shares
b. If the common stock had a market price of $96 per share before the stock split, what would be an approximate market price per share after the split? $fill in the blank per share
c. Journalize the entry to record the stock split. If no entry is required, type "No Entry" and leave the amount boxes blank.
| CashCommon StockNo EntryPaid-In Capital in Excess of Par-Common StockRetained Earnings No Entry | |||
| CashCommon StockNo EntryPaid-In Capital in Excess of Par-Common StockRetained Earnings No Entry |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Accounting for Non-Accounting Students
Authors: John R. Dyson
8th Edition
273722972, 978-0273722977
