Effect of Stock Split

Gino's Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Midwest. Gino's Restaurant Corporation, which had 18,000 shares of common stock outstanding, declared a 3-for-1 stock split.

a. What will be the number of shares outstanding after the split? shares

b. If the common stock had a market price of $144 per share before the stock split, what would be an approximate market price per share after the split? $ per share

A corporation, which had 37,000 shares of common stock outstanding, declared a 3-for-1 stock split.

(a) What will be the number of shares outstanding after the split? shares

(b) If the common stock had a market price of $123 per share before the stock split, what would be an approximate market price per share after the split? $ per share

(c) Is a journal entry required for a stock split?