FREE Trial

Kindey Corporation has 185,000 common shares outstanding with a carrying value of $20 per share. Kindey declares a 4-for-1 stock

Question:

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?

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

Step by Step Answer:

Answer rating: 66% (3 reviews)

To address each part of the stock split scenario for Kindey Corporation a In a 4 for 1 stock split e…View the full answer


answer-question
Answered By
tutor-profile-image
Krishnavendra Y
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagiarism), well-researched and critically analyzed papers.
5.00+ 4+ Reviews 10+ Question Solved
Related Book For  answer-question
Intermediate Accounting

Intermediate Accounting

ISBN: 978-1119048541

11th Canadian edition Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

See More Books
Question Details
Chapter # 3
Section: Brief Exercises
Problem: 15
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: September 02, 2023 11:09:07
See More Questions

Students also viewed these Business questions

Q:
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...
A:
a 740 000 185 000 X 4 b 5 00 20 X 1 4 c 3 700 000 740 00......
Q:
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...
A:
a 37 000 185 000 5 b 100 00 20 x 5 c 3 700 000 37 000 X 100 no ch......
Q:
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...
A:
a How many shares are outstanding after the split The reverse stock split reduces the number of shar......
Q:
The MLC Corporation produces electronic microwave ovens and uses a perpetual inventory system. Its job costing records yield the following information. Job No. 1 m 2 3 4 *5 6 7 Date Finished Sold...
A:
To compute MLC s cost of finished goods inventory at October 31 and November 30 we need to analyze t......
Q:
Contrast the common-law family with the socialist-law family.
A:
Although the common law and socialist law are both major families of law they are v......
Q:
From calls made with randomly generated telephone numbers, 1012 respondents are asked if they rent or own their residences. Identify the sampling technique used, and discuss potential sources of bias...
A:
Simple random sampling is used because each telephone number has......
Q:
The dissolving of a solute into a solvent can be thought of as a three-step process. The drinking alcohol, ethanol (CH 3 CH 2 -OH), is infinitely soluble in water. However, another alcohol called...
A:
Click to View...
Q:
Scotts Miracle-Gro is the worlds leading supplier and marketer of do it yourself lawn and garden products; it is located in Marysville, Ohio. Although Scotts dominates many of its chosen markets, its...
A:
The median and mean values for Scottss peers appear below Values excluding Scotts Median Mean 5 year......
Q:
An observer experiences a sound wave intensity 1.5010 5 Wm 2 at a distance 4.80 m from a source which emits wave in all direction. What is power of the source?
A:
0 004343 Watt The intensity I of a sound wav......
Q:
Chadwick Corporation has 450,000 common shares outstanding. The corporation declares a 6% stock dividend when the common shares' fair value is $30 per share. (Their carrying value is $18 per share.)...
A:
Click to View...
Q:
Sullivan Limited issued 2,000 shares of no par value common shares for $79,000. Prepare Sullivan's journal entry if (a) the shares have no par value, and (b) the shares have a par value of $11 per...
A:
a When the shares have no par value In many jurisdictions companies are allowed to issue shares with......
Q:
The Becker Company factory has been experiencing long delays in jobs going through the turret lathe department because of inadequate capacity. The head of this department contends that five machines...
A:
a M M s Nonpreemptive Priority Model s......
Q:
A steady, incompressible, two-dimensional velocity field is given by where the x- and y-coordinates are in meters and the magnitude of velocity is in m/s. The x- and y-component of material...
A:
To find the x and y components of the material acceleration ax and ay at the point x 1 m y 1 m we ne......
Q:
What is the optimal block size for a miss latency of 24+B cycles? Cache block size (B) can affect both miss rate and miss latency. Assuming a 1-CPI machine with an average of 1.35 references (both...
A:
To find the optimal block size for a miss latency of 24 B cycles we need to analyze the provided mis......
Q:
One reaction involved in the sequence of reactions leading to the destruction of ozone is Calculate r H for this reaction by using the thermodynamic data in Appendix D. Use your r H value, plus...
A:
Click to View...
Q:
Carefully distinguish between marginal productivity rent and economic rent. When does land command economic rent? marginal productivity rent? Draw a diagram to illustrate your answer.
A:
distinction between marginal productivity rent and economic rent along with an explanation of when land commands each type of rent Marginal productivity rent is the payment made to a factor of product......
Q:
Create five new immediate inferences composed of standard-form categorical propositions. Then use the modified Venn diagram technique to test each for validity.
A:
The five new immediate inferences composed of standard f......
Q:
On September 1, Cool Salad Dressings creates a petty cash fund with an imprest balance of $250. During September, Michael Martell, the fund custodian, signs the following petty cash tickets: On...
A:
Req 1 An imprest fund has the same balance at all times which equals the sum of cash in the fu......
Q:
As indicated by mutual fund flows, investors tend to beat the market seek safety invest in last year's winner invest in last years loser
A:
The detailed answer for the above qu......
Q:
What is the nature of interest? Distinguish between simple interest and compound interest.
A:
Interest is the payment for the use of money It may......
Q:
What is the nature of interest? Distinguish between simple interest and compound interest.
A:
Interest is the payment for the use of money It may......
Q:
What are the components of an interest rate? Why is it important for accountants to understand these components?
A:
The interest rate generally has three components 1 Pure rate of interestThis would be the am......
Advanced MEMS Packaging 1st Edition - ISBN: 0071626239 - Free Book