Toy World reported the following information: common stock, $1.50 par; 400,000 shares authorized; 200,000 shares issued and

Question:

Toy World reported the following information: common stock, $1.50 par; 400,000 shares authorized; 200,000 shares issued and outstanding.

Required:
What is the typical effect of a 3-for-1 stock split on the information Toy World reports above? If the market value of the is $30 per share when the stock split is declared, what would you expect the approximate market value per share to be immediately after the split? Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...