On July 1, 2020, Daichi Corporation declared a 1 for 5 reverse share split when the market value of share was P100. Prior to the split, Daichi had 100,000 shares of P 10 par value issued and outstanding. After the split, how much is the new par value per share?

On July 1, 2020, Daichi Corporation declared a 1 for 5 reverse share split when the market value of share was P100. Prior to the split, Daichi had 100,000 shares of P 10 par value issued and outstanding. After the split, how much is the new par value per share?

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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