Canton has 60,000 shares of $10 par stock issued and outstanding. Canton declares a 2-for-1 stock...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Canton has 60,000 shares of $10 par stock issued and outstanding. Canton declares a 2-for-1 stock split but for convenience accounts for it as a 100% stock dividend. What is the par value per share and number of shares outstanding after the stock split? O $10 par; 120,000 shares O $5 par; 60,000 shares. O $10 par; 60,000 shares. O $5 par; 120,000 shares Canton has 60,000 shares of $10 par stock issued and outstanding. Canton declares a 2-for-1 stock split but for convenience accounts for it as a 100% stock dividend. What is the par value per share and number of shares outstanding after the stock split? O $10 par; 120,000 shares O $5 par; 60,000 shares. O $10 par; 60,000 shares. O $5 par; 120,000 shares
Expert Answer:
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078025778
17th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Posted Date:
Students also viewed these accounting questions
-
What is the book value per share of stock?
-
What is the book value per share for the current year below, please show me the work so I can understand: I am coming up with negative $3.19 per share (-$581,000,000 / 182,350,259) Stocks Presented...
-
What is the difference between the market value per share and the par value per share?
-
Greety Food in Ashland, Kentucky, manufactures and markets snack foods. Sita Lee manages the company's fleet of 220 delivery trucks. Lee has been charged with *reengineering* the fleet-management...
-
Open the following T accounts: Cash; Repair Supplies; Repair Equipment; Accounts Payable; C. Ferdinand, Capital; Withdrawals; Repair Fees Earned; Salaries Expense; and Rent Expense. Record the...
-
What can firms do to increase salesperson status?
-
a. What is the potential difference across each resistor in Figure P23.8? b. Draw a graph of the potential as a function of the distance traveled through the circuit, traveling clockwise from \(V=0...
-
Good to Go Auto Products distributes automobile parts to service stations and repair shops. The adjusted trial balance data that follows is from the firms worksheet for the year ended December 31,...
-
What system would therefore be suitable for Aviva to bring all their regions into a single platform while providing real-time information to the managers as well giving employees access to their own...
-
Apu, Barney, Clancy, Homer, and Seymour (none of whom are related to one another), working together, form the Be Sharps Corporation ("Sharps") on January 1, 20x1. The corporation only issues voting,...
-
A patient in recovery restores 1 . 3 kg of body mass in a week. How many micrograms / second ( mu g / s ) are being restored? A . 3 6 mu g / s B . 5 . 2 times 1 0 4 mu g / s C . 2 . 1...
-
1) Evaluate the company's marketing profitability and how it contributes to net profit before taxes. 2) How would marketing profits and net profit change if sales increase by 25 percent? 3) Evaluate...
-
Deus Inc. manufactures office tables and chairs in its two factories located in Luzon and Visayas. Both factories produce the same two products and then sells them to wholesalers located in the...
-
On December 31, Year 1, Delta issues 1 million shares of common stock to equity investors in exchange for $50 million in cash. Delta traditionally declares and pays an annual dividend of $2 per share...
-
During the first month of operations ended May 31, Big Sky Creations Company produced 56,000 designer cowboy boots, of which 52,450 were sold. Operating data for the month are summarized as follows:...
-
Aberzombie, Inc. has 2 divisions, Alpha and Beta. Beta produces a unit that sells for $50, with the following costs based on its capacity of 250,000 units: Direct Materials $15 Direct Labor $12.50...
-
Your company is deciding whether to focus on customer acquisition or customer retention. How can you effectively evaluate the benefits and trade-offs of each strategy and determine the right approach...
-
Comptech Ltd is a manufacturer of optical equipment. In September 2019, Ed Thompson the Chief Research Officer, attended a conference in Switzerland that focused on optical developments for the 21st...
-
A variety of productschicken wings, drumsticks, thighs, and so onare the result of a joint production process of butchering a chicken that costs $0.25 per pound. The wings can be sold at the...
-
What are the characteristics of a strong statement of cash flows?
-
Bitmore Company manufactures two products: BIT, which sells for $120; and MORE, which sells for $180. Estimated cost and production data for the current year are as follows: In addition, fixed...
-
Which of the following statements best describes corporate governance with respect to fraud? 1. Auditors are primarily responsible for the detection of fraud, the Board of Directors for the...
-
Which of the following is not a reason that the prevention and detection of fraud resulting from management override and collusion presents a significant challenge for the antifraud community? 1....
-
Which of the following is not an inherent part of Statement on Auditing Standards, No. 99/113? 1. Greater scrutiny of the chief executive and chief financial officers personal financial condition 2....
Study smarter with the SolutionInn App