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At the time that Kirby Company issued a 2-for-1 stock split, the company had 1,000 shares of $8 par value common stock outstanding. Stockholders' equity
At the time that Kirby Company issued a 2-for-1 stock split, the company had 1,000 shares of $8 par value common stock outstanding. Stockholders' equity also contained $15,000 of additional paid-in capital and $16,000 of retained earnings. Immediately after the stock split the:
number of outstanding shares of common stock would be 16,000.
amount of paid-in capital in excess of par-common would be equal to $30,000.
balance in the retained earnings account would amount to $8,000.
balance in the common stock account would amount to $8,000.
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