USE THE FOLLOWING INFORMATION TO ANSWER QUESTIONS below:
On September 1, Cari Company's balance sheet indicates there are 600,000 shares of $30 par value common shares in the Common Stock account and $4,500,000 in the Additional Paid-in Capital account. There are 2,000,000 shares authorized. On September 2, Cari splits its stock 2 for 1.
-How many Cari shares of common stock are issued and outstanding immediately after the stock split?
A) 300,000
B) 1,200,000
C) 1,400,000
D) 4,000,000
Correct Answer:
Verified
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