The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $380 pershare. To reduce the market price of the common stock, Yeates declared a 4-for-1 stock split for the 340,000 outstanding shares of its$10 par value common stock.Requiredb. Determine the number of common shares outstanding and the par value after the split. (Round par value answer to 2 decimalplaces.)Number of common shares outstandingPar value per share after the split

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Answered: The market value of Yeates…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 14EB: Nutritious Pet Food Companys board of directors declares a 2-for-1 stock split on June 30 when the...

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Nutritious Pet Food Companys board of directors declares a 2-for-1 stock split on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the new par value of the shares and how many shares are outstanding after the split? What is the total amount of equity before and after the split?
Nutritious Pet Food Companys board of directors declares a 2-for-1 stock split on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the new par value of the shares and how many shares are outstanding after the split?
Assume that Lily Corporation has outstanding 1,500 shares of 150 par callable preferred stock that were issued at 175 per share, and that no dividends are in arrears. If the call price is 185 per share, what journal entry will Lily make to record the recall of these shares?
For a recent year, OfficeMax and Staples are two companies competing in the retail office supply business. OfficeMax had a net income of 34,894,000, while Staples had a net loss of 210,706,000. OfficeMax had preferred stock of 28,726,000 with preferred dividends of 2,123,000. Staples had no preferred stock. The average outstanding common shares for each company were as follows: a. Determine the earnings per share for each company. Round to the nearest cent. b. Evaluate the relative profitability of the two companies.
Aggregate Mining Corporation was incorporated five years ago. It is authorized to issue 500,000 shares of $100 par value 8% cumulative preferred stock. It is also authorized to issue 750,000 shares of $6 par value common stock. It has issued 50,000 of the common shares and 1,000 of the cumulative preferred shares. The corporation has never declared a dividend and the preferred shares are one years in arrears. Aggregate Mining has the following transactions this year: Journalize these transactions. For the stock split, show the calculation for how many shares are outstanding after the split and the par value per share after the split
The market value of Yeates Corporation’s common stock had become excessively high. The stock was currently selling for $390 per share. To reduce the market price of the common stock, Yeates declared a 5-for-1 stock split for the 350,000 outstanding shares of its $12 par value common stock. Required: Determine the number of common shares outstanding and the par value after the split.
Marcos Company, which had 35,000 shares of common stock outstanding, declared a 4-for-1 stock split. a. What will be the number of shares outstanding after the split? shares b. If the common stock had a market price of $280 per share before the stock split, what would be an approximate market price per share after the split?$ per share
A corporation, which had 37,300 shares of common stock outstanding, declared a 5-for-1 stock split. a. What will be the number of shares outstanding after the split?fill in the blank 7511bf07efebf9c_1 shares b. If the common stock had a market price of $180 per share before the stock split, what would be an approximate market price per share after the split?$fill in the blank 7511bf07efebf9c_2 per share c. Journalize the entry to record the stock split. If no entry is required, type "No Entry" and leave the amount boxes blank. blank - Select - - Select - - Select - - Select -
A corporation, which had 24,900 shares of common stock outstanding, declared a 5-for-1 stock split. a. What will be the number of shares outstanding after the split?fill in the blank 53e95dfc6067fb6_1 shares b. If the common stock had a market price of $150 per share before the stock split, what would be an approximate market price per share after the split?$fill in the blank 53e95dfc6067fb6_2 per share c. Journalize the entry to record the stock split. If no entry is required, type "No Entry" and leave the amount boxes blank. No Entry fill in the blank 58010d03701507a_2 fill in the blank 58010d03701507a_3 No Entry fill in the blank 58010d03701507a_5 fill in the blank 58010d03701507a_6
On March 1, Florida Blue instituted a 5-for-2 stock split. Before the split, Florida Blue had 150 million shares with a price of $205 per share.a) How many shares were outstanding after the split?b) What was the post-split price per share?
Robinson's has 45,000 shares of stock outstanding with a par value of $1 per share and a market price of $56 a share. The balance sheet shows $45,000 in the common stock account, $470,000 in the paid in surplus account, and $440,000 in the retained earnings account. The firm just announced a 5-for-3 stock split. How many shares of stock will be outstanding after the split?
At the time that Kirby Company issued a 3-for-1 stock split, the company had 1,000 shares of $12 par value common stock outstanding. Stockholders' equity also included $21,000 of paid in capital in excess of par value–common and $30,000 of retained earnings. Which of the following statements regarding the impact of the stock split is true? a. The number of outstanding shares of common stock will be 36,000. b. The amount of paid-in capital in excess of par–common will become $21,000. c. The balance in the retained earnings account will become $10,000. d. The balance of the common stock account will be $12,000.

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