A company declares a 3 for 1 stock split at a time when you are holding 300 shares of the company. Which of the following statements is correct?: Your voting interest (control) of the company changes The market value of the company's stock will stay the same The company felt the stock price was trading at too low a level as probable justification for the split The company needs not make a journal entry for this event There are no correct statements above
A company declares a 3 for 1 stock split at a time when you are holding 300 shares of the company. Which of the following statements is correct?: Your voting interest (control) of the company changes The market value of the company's stock will stay the same The company felt the stock price was trading at too low a level as probable justification for the split The company needs not make a journal entry for this event There are no correct statements above
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 12RE: Assume that Lily Corporation has outstanding 1,500 shares of 150 par callable preferred stock that...
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A company declares a 3 for 1 stock split at a time when you are holding 300 shares of the company. Which of the following statements is correct?:
- Your voting interest (control) of the company changes
- The market value of the company's stock will stay the same
- The company felt the stock price was trading at too low a level as probable justification for the split
- The company needs not make a
journal entry for this event - There are no correct statements above
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