Question
Charles Corporation currently has 250,000 shares of $1 par value common stock authorized with 100,000 shares outstanding. The board of directors declared a 2-for-1 split
Charles Corporation currently has 250,000 shares of $1 par value common stock authorized with 100,000 shares outstanding. The board of directors declared a 2-for-1 split on May 15, 2014, when the market value of the common stock was $2.50 per share. Theretained earningsbalance on May 15 was $350,000. Additional paid-in capital on this date was $10,000.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
