Mathematics, 25.09.2020 03:01 Anabel818
On July 1, Black Corporation had 200,000 shares of $10 par common stock outstanding. The market price of the stock was $12 per share. On the same date, Black declared a 1 for 2 reverse stock split. The par value of the stock was increased from $10 to $20, and one new $20 par share was issued for each two $10 par shares outstanding. Immediately before the reverse stock split, Black's Paid-in capital--excess of par account equaled $4,000,000. What should be the balance in Black's Paid-in capital--excess of par account immediately after the reverse stock split?
Answers: 3
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On July 1, Black Corporation had 200,000 shares of $10 par common stock outstanding. The market pric...
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