Question: A firm issues a stock split on its Common Stock. What is the effect on the owners' equity accounts of balance sheet? Common Stock increases,

A firm issues a stock split on its Common Stock. What is the effect on the owners' equity accounts of balance sheet? Common Stock increases, Retained Earnings decreases Undeterminable - it depends if the stock split is forward or reverse No effect because no journal entry is needed Undeterminable - it depends if the stock split is large or small

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