Hii ticher please given correct answer? ? General Accounting question? The market value of Yeates Corporation's commonstock had become excessively high. The stock wascurrently selling for $270 per share. To reduce themarket price of the common stock, Yeates declared a3-for-1 stock split for the 310,000 outstanding sharesof its $12 par value common stock.Required:Determine the number of common shares outstandingand the par value after the split.

Step 1: Define Market Price of ShareThe market price of a share is the current price at which the…

Answered: The market value of Yeates…

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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The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $280 per share. To reduce the market price of the common stock, Yeates declared a 4-for-1 stock split for the 240,000 outstanding shares of its $12 par value common stock. Required b. Determine the number of common shares outstanding and the par value after the split. (Round par value answer to 2 decimal places.) Number of common shares outstanding Par value per share after the split
Mid-State BankCorp recently declared a 7-for-2 stock split. Prior to the split, the stock sold for $100 per share. If the firm's total market value is unchanged by the split, what will be the stock price following the split?
Marcos Company, which had 35,000 shares of common stock outstanding, declared a 4-for-1 stock split. a. What will be the number of shares outstanding after the split? shares b. If the common stock had a market price of $280 per share before the stock split, what would be an approximate market price per share after the split? per share $
Mid-State BankCorp recently declared a 7-for-2 stock split. Prior to the split, the stock sold for $100 per share. If the firm's total market value is unchanged by the split, what will the stock price be following the split? Select one: a. $28.57 b. $25.43 c. $26.29 d. $28.86 e. $35.71
please help me asappp.... Consider the case of Tobotics Inc.: Tobotics Inc. currently has 20,000 shares of common stock outstanding. Its management believes that its current stock price of $90 per share is too high. The company is planning to conduct stock splits in the ratio of two for one as described in the animation. If Tobotics Inc. declares a two-for-one stock split, what will be the price of the company’s stock after the split, assuming that the total value of the firm’s stock remains the same after the split? ______ Scorecard Corp. is one of Tobotics Inc.’s leading competitors. Scorecard Corp.’s market intelligence research team shares Tobotics Inc.’s plans of announcing a stock split, influencing the distribution policymakers. Consequently, executives at Scorecard Corp. decide to offer stock dividends to their shareholders. A stock dividend is another way of keeping the stock price from going too high. Scorecard Corp. currently has 1,100,000 shares of common stock outstanding.…
Downie Foods recently completed a 4-for-1 stock split. Prior to the split, its stock sold for $120 per share. If the firm's total market value increased by 5% as a result of increased liquidity caused by the split, what was the stock price following the split?
Jackson & Company has no-par value common stock outstanding that is selling at $60 per share.The company’s CEO believes that the stock price is undervalued and decides to buy back 14,000 shares.What is the financial statement effect of the purchase of the treasury stock? Balance Sheet Income Statement Assets = Liabilities + Equity Revenues - Expenses = Net Income Answer Answer Answer Answer Answer Answer
Loiselle Graphics recently announced a 3-for-1 stock split. Prior to the split, the company's stock was trading at $90 per share. The split had no effect on the wealth of the company's investors. What will be the new stock price? $180 $30 $270 $45 $60
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On October 1, Hawking Corp. had 40,000 shares of $2 par value common stock outstanding before it declared a 2-for-1 stock split. At that time, its stock was selling for $50 per share. Question: After the split, how many shares of common stock are outstanding and what is their par value per share? Answer: After the split, the number of shares outstanding is and the par value per share is
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