XYZ Inc. had outstanding 50,000 shares of non-par value common stock, with a stated value...
80.2K
Verified Solution
Link Copied!
Question
Accounting
XYZ Inc. had outstanding 50,000 shares of non-par value common stock, with a stated value of $450, on December 31, 2022. The directors voted to split on a 3-for-1 basis , issuing two new sharess to stockholders for each share presently owned. What will be the number of shares and share price after the split? Give any journal entry required for the split.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
