Solved: If the common stock had a market price of 192 per share, Accounting Basics

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If the common stock had a market price of 192 per share

Question - Effect of Stock Split

Gino's Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Midwest. Gino's Restaurant Corporation, which had 36,000 shares of common stock outstanding, declared a 2-for-1 stock split (1 additional shares for each share issued).

a. What will be the number of shares outstanding after the split?

b. If the common stock had a market price of $192 per share before the stock split, what would be an approximate market price per share after the split?

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Accounting Basics: If the common stock had a market price of 192 per share

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