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A growing corporation had $180,000 of its $30 par common stock issued before its recent 3-for-1 stock split. The market price of the stock was
A growing corporation had $180,000 of its $30 par common stock issued before its recent 3-for-1 stock split. The market price of the stock was $120 per share before the split. Which of the following is true as a result of the split? a. There were 24,000 shares (6,000 + 18,000) of common stock issued after the split. b. The balance in the common stock account increased to $540,000. c. The par value of the stock decreased to $10 per share. d. The market price of the stock tripled.
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