Inkom Company had the following balances in the equity section of its balance sheet: Common Stock (1000
Fantastic news! We've Found the answer you've been seeking!
Question:
Inkom Company had the following balances in the equity section of its balance sheet:
Common Stock (1000 shares, par $1) | $1,000 |
Paid-in-Capital, Excess of Par | 39,000 |
Retained Earnings | 50,000 |
Afterwards, Inkom declared and distributed a 2-for-1 stock split. At the time of the stock split, the fair value of the stock was $50 per share. Immediately after the completion of the stock split, determine the balance of Paid-in-Capital, Excess of Par?
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Posted Date: