A company recently completed a 5-for-3 stock split. Prior to the split, its stock sold for $155

Fantastic news! We've Found the answer you've been seeking!

Question:

A company recently completed a 5-for-3 stock split. Prior to the split, its stock sold for $155 per share. If the total market value was unchanged by the split, what was the price of the stock following the split?

		81
		75
		93
		87
		69

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324659139

11th edition

Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones

See More Books

Posted Date: Mar 10, 2024 03:59 AM

See More Questions

Last week, Weschler Paint Corp. completed a 3-for-1 stock split. Immediately Prior to the split, its stock sold for $160 per share. The firm's total market value was unchanged by the split. Other...
Yesterday, Berryman Investments was selling for $75 per share. Today, the company completed a 7-for-2 stock split. If the total market value was unchanged by the split. What is the price of the stock...
A researcher wanted to find out if there was difference between older movie goers and younger movie goers with respect to their estimates of a successful actors income. The researcher first...
Bhushan Building Supplies entered into the following transactions. Prepare journal entries under the perpetual inventory system. June 1 Purchased merchandise on account from Brij Builders Materials,...
Instead of a system of individual performance appraisals, Nucor appraises employee performance according to division-wide quality, productivity, and profitability goals and targets. What are the...
How does topography impact or is recognized as a force for an organization?
Refer to the statements for Google in Appendix A. For the year ended December 31, 2015, what was its debt-to-equity ratio? What does this ratio tell us? Data From Statement Google In Appendix A...
Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2015, 300 shares of preferred stock and 4,000 shares of common stock have been...
Write a three page paper on Compare and contrast Online Analytic Processing (OLAP) and Online Transaction Processing (OLTP); also discuss Codds rules for TP databases and OLAP databases. Cite any...
If below figure represent the cross section of a spherical capacitor, determine its capacitance in pF. r1=2.9 mm, r2=4.6 mm, r3=7.5 mm, &1=4.2, r2=7.1 and Vo = 9.1 V. E =1/36Tt 10- F/m Er2 Er1 r1 Vo...
Review the World bank study on crude oil price differential. Select two different types of crude oil products. Research historical price data for these products for numerous periods (helpful to have...
For the sake of a well-balanced discussion, what are a few positives to engaging in conflict with someone or a group of people?
1.- Investigate in different reliable sources such as the Digital Library, information related to macroeconomic indicators in Mexico, the United States and Chile, and which is requested below: -Gross...
You've crafted your case study. You've done your research on the topic. Now it's time to identify some solutions in the form of a Parenting Action Plan. Your action plan can build on your existing...
1. Create three classes Data, Single, and List, as follows: a. Create an abstract class Data, which will contain no instance variables, no constructor, and only one method: double valueOf() which...
1. Using the periodic table, answer the following questions: a. What is the atomic number for lithium (Li)? b. What is the atomic mass of oxygen (0)? c. What is the chemical symbol for potassium? d....
Using the theoretical sampling strategy, how many samples of size 4 (n = 4) can be drawn from a population of size: (a) N = 5? (b) N = 8? (c) N = 16? (d) N = 50?
On January 1, 2010, Metcalf Company sold equipment for cash and leased it back. As seller-lessee, Metcalf retained the right to substantially all of the remaining use of the equipment. The term of...
At the end of 2009, Terry Company prepared the following schedule of investments in available-for-sale securities (common stock): During 2010, the following transactions occurred: June 8 Purchased O...
Refer to the information in RE15-5. Prepare the journal entry on June 30 for Gatrong to record the first interest receipt, using the effective interest method. Round to the nearest dollar. In RE15-5,...
What are the features of a legal risk management plan?
What are residual powers? Concurrent powers?
Why have business enterprises adopted codes of conduct?

A company recently completed a 5-for-3 stock split. Prior to the split, its stock sold for $155

Question:

Expert Answer:

The correct answer is 93 Heres why In a 5for3 stock split for every 3 shares you owned before you n... View the full answer

Intermediate Accounting

Students also viewed these finance questions