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At the time that Kirby Company issued a 2-for-1 stock split, the company had 2,000 shares of $10 par value common stock outstanding. Stockholders' equity
At the time that Kirby Company issued a 2-for-1 stock split, the company had 2,000 shares of $10 par value common stock outstanding. Stockholders' equity also included $20,000 of paid in capital in excess of par value-common and $28,000 of retained earnings. Which of the following statements regarding the impact of the stock split is true? Multiple Choice 0 The number of outstanding shares of common stock will be 40,000. 0 The amount of paid-in capital in excess of par-common will become $20,000. 0 The balance in the retained earnings account will become $14,000. O The balance of the common stock account will be $20,000
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