Menzie Corporation has 150 000 common shares outstanding with a carrying
Menzie Corporation has 150,000 common shares outstanding with a carrying value of $12 per share. Menzie declares a 3-for-1 stock split.
(a). How many shares are outstanding after the split?
(b). What is the carrying value per share after the split?
(c). What is the total carrying value after the split?
(d). What journal entry is necessary to record the split?
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