Answered: We declare a 2 for 1 stock split.

Business

Accounting

We declare a 2 for 1 stock split.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Provide the following journal entries:

On Dec. 15 our stock is trading at $104/share. We declare a 2 for 1 stock split.

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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