Question
Mill Creek Corporation (MCC) currently has 440,000 shares of stock outstanding that sell for $70 per share. Assuming no market imperfections or tax effects exist,
Mill Creek Corporation (MCC) currently has 440,000 shares of stock outstanding that sell for $70 per share. Assuming no market imperfections or tax effects exist, what will the share price be after:
a. MCC has a four-for-three stock split? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)
New share price $ per share
b. MCC has a 10% stock dividend? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)
New share price $ per share
c. MCC has a 45.5% stock dividend? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)
New share price $ per share
d. MCC has a three-for-seven reverse stock split? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)
New share price $ per share
Determine the new number of shares outstanding in parts (a) through (d). (Do not round intermediate calculations. Round the final answers to the nearest whole number.)
| a. New shares outstanding | |
| b. New shares outstanding | |
| c. New shares outstanding | |
| d. New shares outstanding | |
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
