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On July 1, your company has 400,000 shares of $60 par value common stock that are issued and outstanding. On September 2, your company splits its stock 3-for-2 and reduces the par walue to $40 per share. How many shares of common stock are issued and outstanding mmediately after the stock split?

On July 1, your company has 400,000 shares of $60 par value common stock that are issued and outstanding. On September 2, your company splits its stock 3-for-2 and reduces the par walue to $40 per share. How many shares of common stock are issued and outstanding mmediately after the stock split?

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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On July 1, your company has 400,000 shares of $60 par value common stock that are issued and outstanding. On September 2, your company splits its stock 3-for-2 and reduces the par value to $40 per share. How many shares of common stock are issued and outstanding immediately after the stock split? For the year 2016, LOOP has 5,400 millions of authorized shares, 2,976 millions of issued shares, and 776 millions of treasury stock. How many common shares are outstanding as of December 31, 2016?
Transcribed Image Text:On July 1, your company has 400,000 shares of $60 par value common stock that are issued and outstanding. On September 2, your company splits its stock 3-for-2 and reduces the par value to $40 per share. How many shares of common stock are issued and outstanding immediately after the stock split? For the year 2016, LOOP has 5,400 millions of authorized shares, 2,976 millions of issued shares, and 776 millions of treasury stock. How many common shares are outstanding as of December 31, 2016?
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