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Approximate market price per share after the split

Problem: A corporation, which had 15,000 shares of common stock outstanding, declared a 3-for-1 stock split.

(1) What will be the number of shares outstanding after the split?

(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?

(3) Journalize the entry to record the stock split.

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Accounting Basics: Approximate market price per share after the split

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Approximate market price per share after the split

Reference No:- TGS01739348

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Role of tax credits play in international taxation

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Q : Approximate market price per share after the split

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Approximate market price per share after the split

Reference No:- TGS01739348

Recent Questions Asked Accounting Basics

Q : Role of tax credits play in international taxation

Q : Accounting errors and corrections

Q : How long does it take to double the money on an investment

Q : What states are considered as absorbing states

Q : Approximate market price per share after the split

Q : Interest earned on the note receivable

Q : Variable predetermined manufacturing overhead rates

Q : Amount of bond interest expense to be recognized

Q : Sales for each month in ending inventory

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