Question
Collin Sales, Inc. has outstanding 6,000 shares of $60 par common stock. On January 5, Collin announces a 3:1 stock split, to be completed Feb.
Collin Sales, Inc. has outstanding 6,000 shares of $60 par common stock. On January 5, Collin announces a 3:1 stock split, to be completed Feb. 25. What is the balance in Common Stock after the stock split?
| $1,080,000 |
| $120,000 |
| $360,000 |
| None of the above. |
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Principles Of Auditing And Other Assurance Services
Authors: Ray Whittington, Kurt Pany
13th Edition
007232726X, 9780072327267
