Pettygrove Company had 1,100,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $5,500,000, and Retained Earnings is $1,650,000. The company issues a 2-for-1 stock split. The market price of the stock is $13. What is the balance in the Common Stock account after this issuance? Multiple Choice $11,000,000 $25,300,000 $22,000,000 $16,500,000
Pettygrove Company had 1,100,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $5,500,000, and Retained Earnings is $1,650,000. The company issues a 2-for-1 stock split. The market price of the stock is $13. What is the balance in the Common Stock account after this issuance? Multiple Choice $11,000,000 $25,300,000 $22,000,000 $16,500,000
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 7EB: Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the...
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Pettygrove Company had 1,100,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $5,500,000, and Retained Earnings is $1,650,000. The company issues a 2-for-1 stock split. The market price of the stock is $13. What is the balance in the Common Stock account after this issuance?
Multiple Choice
- $11,000,000
- $25,300,000
- $22,000,000
- $16,500,000
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