Goodnight Films has 50,000 shares of stock outstanding with a par value of $.70 per share and a market price of $12.64 per share. The balance sheet shows $370,000 in the capital in excess of par value account, and $695,000 in the retained earnings account. The company just announced a stock split of 3-for-1. What will be the balance in the capital in excess of par account value after the split?   Group of answer choices   $123,333   $176,190   $370,000   $411,111   $246,667

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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Goodnight Films has 50,000 shares of stock outstanding with a par value of $.70 per share and a market price of $12.64 per share. The balance sheet shows $370,000 in the capital in excess of par value account, and $695,000 in the retained earnings account. The company just announced a stock split of 3-for-1. What will be the balance in the capital in excess of par account value after the split?

 

Group of answer choices

 

$123,333

 

$176,190

 

$370,000

 

$411,111

 

$246,667

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