Nutritious Pet Food Companys board of directors declares a 2-for-1 stock split on June 30 when the

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Nutritious Pet Food Company’s board of directors declares a 2-for-1 stock split on June 30 when the stock’s market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the new par value of the shares and how many shares are outstanding after the split?

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Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

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