Swifty Corporation splits its common stock 3 for 1, when the market value is $82 per share. Prior to the split, Swifty had 100000 shares of $15 par value common stock issued and outstanding. After the split, the par value of the stock O is reduced to $45 per share. O is reduced to $3 per share. O remains the same. O is reduced to $5 per share.

Swifty Corporation splits its common stock 3 for 1, when the market value is $82 per share. Prior to the split, Swifty had 100000 shares of $15 par value common stock issued and outstanding. After the split, the par value of the stock O is reduced to $45 per share. O is reduced to $3 per share. O remains the same. O is reduced to $5 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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