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Analyzing a Stock Split Landry Inc. has 60,000 shares of common stock, $1 par outstanding. On September 30, 2020, Landry declares a 2-for-1 stock split
Analyzing a Stock Split Landry Inc. has 60,000 shares of common stock, $1 par outstanding. On September 30, 2020, Landry declares a 2-for-1 stock split when the fair value of its common stock is $30 per share. Distribution of the shares will be on October 15, 2020. a. Prepare the journal entry for the declaration of the stock split on September 30, 2020. b. Prepare the journal entry for the distribution of the stock split on October 15, 2020. Note: If a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). Date Account Name Dr. Sept. 30, 2020 Cr. a. b. Oct. 15, 2020 C. What is the total par value of common stock before and after the stock split? Total par value before the stock split $ Total par value after the stock split $ d. What is the par value per share before and after the stock split? Par value per share before the stock split $ Par value per share after the stock split $ e. What are the total number of shares before and after the stock split? Total shares before the stock split Total shares after the stock split
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