A company had 75,000 outstanding shares of $ 2 par value common stock and $ 215,000 of Retained Earnings. The company issued a 2-for- 1 stock split on a day when the market price of the stock was $ 30 per share. What will be the market price of the stock after the stock split? Multiple Choice $ 30. $24. $ 6.
A company had 75,000 outstanding shares of $ 2 par value common stock and $ 215,000 of Retained Earnings. The company issued a 2-for- 1 stock split on a day when the market price of the stock was $ 30 per share. What will be the market price of the stock after the stock split? Multiple Choice $ 30. $24. $ 6.
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 15EB: Nutritious Pet Food Companys board of directors declares a 2-for-1 stock split on June 30 when the...
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![A company had 75,000 outstanding shares of $ 2 par value common stock and $ 215,000 of Retained Earnings. The company issued a 2-for-
1 stock split on a day when the market price of the stock was $ 30 per share. What will be the market price of the stock after the stock split?
Multiple Choice
$ 30.
$24.
$ 6.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6e413c27-2d76-41fd-a5b7-a2258cf9c1de%2F098ce42a-f1f8-4863-aedd-e2ccf41a210b%2Fmax4sdg_processed.png&w=3840&q=75)
Transcribed Image Text:A company had 75,000 outstanding shares of $ 2 par value common stock and $ 215,000 of Retained Earnings. The company issued a 2-for-
1 stock split on a day when the market price of the stock was $ 30 per share. What will be the market price of the stock after the stock split?
Multiple Choice
$ 30.
$24.
$ 6.
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