MC Qu. 11-132 Pettygrove Company had... Pettygrove Company had 1,100,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $5,500,000, and Retained Earnings is $1,650,000. The company issues a 2-for-1 stock split. The market price of the stock is $13. What is the balance in the Common Stock account after this issuance? Multiple Choice $22,000,000 $25,300,000 $11,000,000 $16,500,000
MC Qu. 11-132 Pettygrove Company had... Pettygrove Company had 1,100,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $5,500,000, and Retained Earnings is $1,650,000. The company issues a 2-for-1 stock split. The market price of the stock is $13. What is the balance in the Common Stock account after this issuance? Multiple Choice $22,000,000 $25,300,000 $11,000,000 $16,500,000
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 10MC: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the...
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