Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Stock split-Firm Growth Industries' current stockholders' equity account is as follows: a. Indicate the change in par value and the number of shares outstanding
Stock split-Firm Growth Industries' current stockholders' equity account is as follows: a. Indicate the change in par value and the number of shares outstanding if the firm declares a 2-for-1 stock split. b. Indicate the change, in par value and the number of shares outstanding if the firm declares a 1-for-1 reverse stock split. c. Indicate the change in par value and the number of shares outstanding if the firm declares a 3-for-1 stock split. d. Indicate the change in par value and the number of shares outstanding if the firm declares a 6-for-1 stock split. e. Indicate the change in par value and the number of shares outstanding if the firm declares a 1-for-4 reverse stock split. a. The number of shares outstanding after a 2-for-1 stock split is shares. (Round to the nearest whole number.) Preferred stock Common stock (500,000 shares at $2 par) Paid-in capital in excess of par Retained earnings Total stockholders' equity $ 400,000 1,000,000 200,000 800,000 $2,400,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started