OldShoe, Inc. had 40,000 shares of common stock outstanding with a $15 par on August 24. 2019. The next day, the board of directors announced a 3-for-1 stock split. Calculate the effect of the stock split on the following: The number of shares outstanding after the split: ____________ The par value of the stock after the split: _________

OldShoe, Inc. had 40,000 shares of common stock outstanding with a $15 par on August 24. 2019. The next day, the board of directors announced a 3-for-1 stock split. Calculate the effect of the stock split on the following: The number of shares outstanding after the split: ____ The par value of the stock after the split: _

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 15EB: Nutritious Pet Food Companys board of directors declares a 2-for-1 stock split on June 30 when the...

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