Use the information for Kindey Corporation from BE15.15. Assume instead that Kindey declared a 1-for-5 reverse stock
Question:
Use the information for Kindey Corporation from BE15.15. Assume instead that Kindey declared a 1-for-5 reverse stock split, and answer the same questions.
Data From BE15.15.
Kindey Corporation has 185,000 common shares outstanding with a carrying value of $20 per share. Kindey declares a 4-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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a 37000 185000 5 b 10000 20 x 5 c 3700000 37000 X 100 no change in ...View the full answer
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Related Book For 
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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