Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Goodnight Films has 50,000 shares of stock outstanding with a par value of $.70 per share and a market price of $12.64 per share. The

Goodnight Films has 50,000 shares of stock outstanding with a par value of $.70 per share and a market price of $12.64 per share. The balance sheet shows $370,000 in the capital in excess of par value account, and $695,000 in the retained earnings account. The company just announced a stock split of 3-for-1. What will be the balance in the capital in excess of par account value after the split

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Institutions In Trade And Finance

Authors: Alasdair I. MacBean, P. N. Snowden

1st Edition

0043820336, 9780043820339

More Books

Students also viewed these Finance questions

Question

approximately A. 8% B. 9% C. 10% D. 11%

Answered: 1 week ago