Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Apple Inc. has had the following stock splits since its inception. Effective Date Split Amount August 2 8 , 2 0 2 0 4 for

Apple Inc. has had the following stock splits since its inception.
Effective Date Split Amount
August 28,20204 for 1
June 9,20147 for 1
February 28,20052 for 1
June 21,20002 for 1
June 16,19872 for 1
a. If the par value of Apple shares was originally $1, what would Apple report as par value per share on its 2022 balance sheet?
Note: Round answer to 4 digits after the decimal. Enter .12345 as .1235 or .12344 as .1234.
Revised Par
Par value per share, 2022
b. On August 18,2023, Apples stock traded for about $174.49. All things equal, if Apple had never had a stock split, what would a share of Apple have traded for that same day?
Note: Do not round intermediate calculations.
Note: Round answer to the nearest dollar, if applicable.
Adjusted Share Price
Par value per share, 2022

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Survey of Accounting

Authors: Carl S Warren

5th Edition

9780538489737, 538749091, 538489731, 978-0538749091

More Books

Students also viewed these Accounting questions