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    accounting journal entries

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    A corporation, which had 15,000 shares of common stock outstanding, declared a 3-for-1 stock split.

    (a) What will be the number of shares outstanding after the split?
    (b) If the common stock had a market price of $240 per share before the stock split, what would be an approximate market price per share after the split?
    (c) Journalize the entry to record the stock split.

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    Solution Preview

    Hi there,

    Here are your answers:

    a) after the split, there will be 45,000 shares
    b) ...