Garber Corporation had 20,000 shares of $12 par value common stock outstanding and declared a four-for-one stock split. How many new shares of stock would then be outstanding and what would be the par value of the new stock?
What will be an ideal response?
80,000 shares outstanding at $3.00 par value.
After a four-for-one stock split, the number of shares will be four times the number before the split and the par value will be one-fourth of what it was before the split.
You might also like to view...
The demand for an industrial product is derived from underlying consumer demand
Indicate whether the statement is true or false
Discuss how the researcher should go about selecting a data analysis strategy (Figure 14.5 in the text)
What will be an ideal response?
A(n) ________ occurs when Rhonda Albers trades Max Lynch three hours of babysitting his three-year-old daughter for fixing the hole in her porch roof
A) differential benefit B) promotion C) exchange D) reciprocal loss E) virtual trade
Cheryl got a new job that pays extremely well. This is good because two years ago she was forced to go into bankruptcy when she couldn't repay her debt. She would like to purchase a used car so she can drive to work. However, she knows it will be hard to get the bank to provide her with a car loan at favorable interest rates due to her recent bankruptcy. She has therefore saved her money diligently so she will have enough to pay for the car outright. In this case, Cheryl lacks
A. buying power. B. credit. C. discretionary income. D. willingness to buy. E. income.