Boise Corporation issues a two for one disproportionate stock split The original par value of the 10,000 common shares was $12 per share The new par value for the 20,000 shares is $5 per share Prepare the journal entry to record the disproportionate stock split ...

Boise Corporation issues a two-for-one disproportionate stock split. The original par value of the 10,000 common shares

Question:

Boise issues a two-for-one disproportionate stock split. The original of the 10,000 common shares was $12 per share. The new for the 20,000 shares is $5 per share.
Prepare the journal entry to record the disproportionate stock split.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... 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,...