Exercise 11-16A (Algo) Determining the effects of stock splits on the accounting records LO 11-7 The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $260 per share. To reduce the market price of the common stock, Yeates declared a 4-for-1 stock split for the 230,000 outstanding shares of its $10 par value common stock. Required: b. Determine the number of common shares outstanding and the par value after the split. Note: Round par value answer to 2 decimal places. Number of common shares outstanding Par value per share after the split
Exercise 11-16A (Algo) Determining the effects of stock splits on the accounting records LO 11-7 The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $260 per share. To reduce the market price of the common stock, Yeates declared a 4-for-1 stock split for the 230,000 outstanding shares of its $10 par value common stock. Required: b. Determine the number of common shares outstanding and the par value after the split. Note: Round par value answer to 2 decimal places. Number of common shares outstanding Par value per share after the split
Accounting (Text Only)
26th Edition
ISBN:9781285743615
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter13: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 13.4CP
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