Homework Answers
Answer:
| Number of common shares outstanding | 930,000 |
| Par value per share after the split | $4 |
Explanation:
1.
The requirement here is to find out the number of common shares outstanding after the split.
Given,
Number of common shares outstanding before = 310,000
Also given, Yeates Corporation decided for a 3 to 1 spit.
:. Number of common shares outstanding = 310,000 * 3 = 930,000
2.
Now ,we have to find the par value per share after the split.
Par per stock before split = $270
The fair value of the common stock must be equal to the current fair value divided by the split.
Par value per share after the split = $12 ÷ 3 = $4
( Market value is not to be considered here)
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