. On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 120 million, $5 par, common shares, to bedistributed on July 1. The market price of Siewert common stock was $23 on June 13.Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. What is the par per shareafter the split?Complete this question by entering your answers in the tabs below.GeneralJournalPar valuePrepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. (If no entry is required for atransaction/event, select "No journal entry required" in the first account field.)View transaction listJournal entry worksheet1Record the stock split.Note: Enter debits before credits.Event1General JournalDebitOn June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 120 million, $5 par, common shares, to bedistributed on July 1. The market price of Siewert common stock was $23 on June 13.CreditPrepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. What is the par per shareafter the split?Par valueComplete this question by entering your answers in the tabs below.GeneralJournalWhat is the par per share after the split? (Enter your answer in dollars rounded to 2 decimal places.)Par valueper share< General Journal

Introduction: A stock split results into issuance of additional shares however it also reduced the…

On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 120 million, $5 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $23 on June 13. Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. What is the par per share after the split?