Danio Fisheries issued 420,000 shares of $4 par value stock. On August 1, Danio Fisheries implements a two-for-one stock split. After the stock split, the total number of shares outstanding is ________ and the total par value is ________.

Question

Quizplus · Accepted Answer

After a two-for-one stock split, the number of shares doubles to 840,000, but the total par value remains the same at $1,680,000 because the par value per share is halved to $2.

Danio Fisheries Issued 420,000 Shares of $4 Par Value Stock