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On April 15, 2017, Maryhill, Inc. has 275,000 shares of $9 par value common stock issued and outstanding. The balance sheet reports account balances as
On April 15, 2017, Maryhill, Inc. has 275,000 shares of $9 par value common stock issued and outstanding. The balance sheet reports account balances as follows (excerpts only):
Common stock: $2,475,000
Paid in capital in excess of par value: 7,800,000
On June 2, the company splits its stock 3-for-2.
- How many shares of common stock are issued and outstanding immediately after the stock split? What is the par value of common stock after the split?
- What is the balance of common stock account immediately after the stock split?
- What is the balance in paid-in capital (in excess of par value) after the stock split?
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