On July 1, 2020, Daichi Corporation declared a 1 for 5 reverse share split when the market value of share was P100. Prior to the split, Daichi had 100,000 shares of P 10 par value issued and outstanding. After the split, how much is the new par value per share?

On July 1, 2020, Daichi Corporation declared a 1 for 5 reverse share split when the market value of share was P100. Prior to the split, Daichi had 100,000 shares of P 10 par value issued and outstanding. After the split, how much is the new par value per share?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 3RE

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