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CHAPTER 18 (5.) On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $1 par, common
CHAPTER 18 (5.)
On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $32 on June 13. - Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. What is the par per share after the split?
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