Question
XYZ, Corp. had a recent stock split of seven-to-one. Before the split, there were 10,000 shares outstanding and each stock traded at a price of
XYZ, Corp. had a recent stock split of seven-to-one. Before the split, there were 10,000 shares outstanding and each stock traded at a price of $30. Calculate the new value of each stock after the split, as well as the new number of shares outstanding and shareholders’s wealth both before and after the split.
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
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