Question
Question 44 At December 31, 2016, Western Corporation had 30,000 shares outstanding of $20 par value common stock. The shares were originally issued for $52
Question 44
At December 31, 2016, Western Corporation had 30,000 shares outstanding of $20 par value common stock. The shares were originally issued for $52 per share. On January 1, 2017, Western split its common stock 4 for 1 with a corresponding reduction in the stocks par value. The market price of the stock just before the split was $120 per share. After the split, the balance of the common stock account is:
| A. | $ 600,000 | |
| B. | $1,800,000 | |
| C. | $3,600,000 | |
| D. | $1,560,000 |
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Internal Auditing Assurance And Consulting Services
Authors: Kurt Reding, Paul Sobel, Michael Head, Sridhar Ramamoorti, Urton Anderson
2nd Edition
0894136437, 978-0894136436
