Ace Corp. had the following stockholders equity at January 31 (dollars in millions, except par value per

Question:

Ace Corp. had the following stockholders€™ equity at January 31 (dollars in millions, except per share):

On March 2, Ace split its $1.80 par common stock 2-for-1.

Requirement
1. Prepare the stockholders€™ equity section of the balance sheet immediately after thesplit.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...