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f Longwood Industries had 20,000 shares of $20 par value common stock outstanding and declared...

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Question

Accounting

f Longwood Industries had 20,000 shares of $20 par value common stock outstanding and declared a 5-for-1 stock split, how many shares would then be outstanding and what would be their par value after the split?

40,000 shares outstanding at $2 par

80,000 shares outstanding at $4 par

4,000 shares outstanding at $100 par

100,000 shares outstanding at $4 par

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