(Answered) Question - on june 13 the board of directors of siewert inc

Accounting

Question - On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 80 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $22 on June 13.

Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. (If no entry is required for an event, select "No journal entry required" in the first account field.)

What is the par per share after the split?

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