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2) A corporation's board of directors declares a 8:1 common share stock split. Currently, total outstanding common shares are 55,000 with a book value of $8.90 per share. What are the number of shares outstanding after the split? a) 55,800 b) 440,000 c) 489,500 d) 6,875

2) A corporation's board of directors declares a 8:1 common share stock split. Currently, total outstanding common shares are 55,000 with a book value of $8.90 per share. What are the number of shares outstanding after the split? a) 55,800 b) 440,000 c) 489,500 d) 6,875

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2) A corporation's board of directors declares a 8:1 common share stock split. Currently, total outstanding common shares are 55,000 with a book value of $8.90 per share. What are the number of shares outstanding after the split? a) 55,800 b) 440,000 c) 489,500 d) 6,875
Transcribed Image Text:2) A corporation's board of directors declares a 8:1 common share stock split. Currently, total outstanding common shares are 55,000 with a book value of $8.90 per share. What are the number of shares outstanding after the split? a) 55,800 b) 440,000 c) 489,500 d) 6,875
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