Concord Corporation has 200,000 common shares outstanding with a carrying value of $17 per share. Concord declares a 1-for-5 reverse stock split. (a) How many shares are outstanding after the split? Number of shares outstanding shares
Concord Corporation has 200,000 common shares outstanding with a carrying value of $17 per share. Concord declares a 1-for-5 reverse stock split. (a) How many shares are outstanding after the split? Number of shares outstanding shares
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 5MCQ
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![Concord Corporation has 200,000 common shares outstanding with a carrying value of $17 per share. Concord declares a 1-for-5
reverse stock split.
(a)
How many shares are outstanding after the split?
Number of shares outstanding
shares](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F87fad0ee-75c5-4ca6-8c36-51ba51c6cde6%2F24933de4-bea4-4c43-b08d-d728b8a6bbbc%2Fauk02o6_processed.png&w=3840&q=75)
Transcribed Image Text:Concord Corporation has 200,000 common shares outstanding with a carrying value of $17 per share. Concord declares a 1-for-5
reverse stock split.
(a)
How many shares are outstanding after the split?
Number of shares outstanding
shares
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