Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

if anyone could solve this it would be greatly appreciated! EX 12-11 Effect of stock split Obj. 4 Willey's Grill & Restaurant Corporation wholesales ovens

if anyone could solve this it would be greatly appreciated!
image text in transcribed
EX 12-11 Effect of stock split Obj. 4 Willey's Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey's Grill & Restaurant, which had 345.000 shares of common stock outstanding declared a 3-for-1 stock split What will be the number of shares outstanding after the split b. If the common stock had a market price of $360 per share before the stock split, what would be an approximate market price per share after the split? GIVEN: Shares outstanding - shares Market value per share dollars per share For puposes of this problem tot's pretend the par value in equal to the market value NOTE No journal entry for a stock split. However, the number of shares outstanding increases and the par value of the stock decreases ratably times 3 - Shares Original share outstanding Par value of shares ols sh dollars per share divide by divide by S dollars per share Market value of shares ois

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_2

Step: 3

blur-text-image_3

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

Horngrens Accounting The Managerial Chapters

Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura

11th Global Edition

1292105879, 978-1292105871

More Books

Students explore these related Accounting questions

Question

1 What is meant by systematic training?

Answered: 3 weeks ago