Inkom Company had the following balances in the equity section of its balance sheet: Common Stock...
Inkom Company had the following balances in the equity section of its balance sheet:
| Common Stock (1000 shares, par $1) | $1,000 |
| Paid-in-Capital, Excess of Par | 39,000 |
| Retained Earnings | 50,000 |
Afterwards, Inkom declared and distributed a 2-for-1 stock split. At the time of the stock split, the fair value of the stock was $50 per share. Immediately after the completion of the stock split, determine the balance of Paid-in-Capital, Excess of Par?
Homework Answers
Balance in paid in capital = 1000*2 = 2000 shares par $0.5 = $1000
Balance in excess of par = $39000
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Inkom Company had the following balances in the equity section
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