Robinson\'s has 39,000 shares of stock outstanding with a par value of $1.00 per
ID: 2772527 • Letter: R
Question
Robinson's has 39,000 shares of stock outstanding with a par value of $1.00 per share and a market price of $60 a share. The balance sheet shows $39,000 in the common stock account, $480,000 in the paid in surplus account, and $460,000 in the retained earnings account. The firm just announced a 5-for-2 stock split. How many shares of stock will be outstanding after the split?
81,900 shares
97,000 shares
97,500 shares
15,600 shares
156,000 shares
Robinson's has 39,000 shares of stock outstanding with a par value of $1.00 per share and a market price of $60 a share. The balance sheet shows $39,000 in the common stock account, $480,000 in the paid in surplus account, and $460,000 in the retained earnings account. The firm just announced a 5-for-2 stock split. How many shares of stock will be outstanding after the split?
Explanation / Answer
97500 SHARES (39000*5/2)
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.