Problema corporation which had 18000 shares of common stock, Ask an Expert

Accounting

Problem:

A corporation, which had 18,000 shares of common stock outstanding, declared a 3-for-1 stock split.

Required:

Question 1: What will be the number of shares outstanding after the split?

Question 2: If the common stock had a market price of $240 per share before the stock split, what would be an approximate market price per share after the split?

Question 3: Journalize the entry to record the stock split.

Note: Be sure to show how you arrived at your answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91163885

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