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Can anyone answer this for me? EX 12-11 Effect of stock split Obj. 4 Willey's Grill & Restaurant Corporation wholesales ovens and ranges to restaurants
Can anyone answer this for me?
EX 12-11 Effect of stock split Obj. 4 Willey's Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey's Grill & Restaurant, which had 345,000 shares of common stock outstanding, declared a 3-for-1 stock split. a. What will be the number of shares outstanding after the split? b. If the common stock had a market price of $360 per share before the stock split, what would be an approximate market price per share after the split? GIVEN: Shares outstanding - shares Market value per share dollars per share For puposes of this problem, let's pretend the par value is equal to the market value. NOTE: No journal entry for a stock split. However, the number of shares outstanding increases and the par value of the stock decreases ratably 0 shares times 3 landing lars per share Step by Step Solution
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