PLEASE FILL OUT JOURNAL ENTRY WITH CORRECT VALUES as I got the second part Wrong...
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Accounting
PLEASE FILL OUT JOURNAL ENTRY WITH CORRECT VALUES as I got the second part Wrong
Ten years ago, Sheridan Ltd. issued 472,000 shares, which are still outstanding, for a total value of $2.27 million. The board of directors for Sheridan Ltd. has become concerned with the dramatic drop in the market price of the shares to $0.30 per share. The company is at risk of being delisted if the share price drops below $0.25 per share. (a) Your answer is correct. What would be the required reverse stock split to move the market price to $4.80 per share? Required reverse stock split for eTextbook and Media List of Accounts Attempts: 1 of 2 used What is the average issue price per share after your recommendation in part (a)? (Round answers to 2 decimal places, e.g. 15.25.) The average issue price per share \$ eTextbook and Media Assistance Used List of Accounts Attempts: 2 of 2 used C) Prepare the journal entry for your recommendation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)
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