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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 51
Effect of stock split
Copper Grill Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Copper Grill Restaurant Corporation, which had 50,000 shares of common stock outstanding, declared a 3-for-1 stock split.
a. What will be the number of shares outstanding after the split
b. If the common stock had a market price of $210 per share before the stock split, what would be an approximate market price per share after the split
Copper Grill Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Copper Grill Restaurant Corporation, which had 50,000 shares of common stock outstanding, declared a 3-for-1 stock split.
a. What will be the number of shares outstanding after the split
b. If the common stock had a market price of $210 per share before the stock split, what would be an approximate market price per share after the split
Explanation
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Verified
A stock split is a process by which a co...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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