Chapter 18 G Saved Help Save & Exit Submit Check my work 13 On June 13, the boar

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Chapter 18 G Saved Help Save & Exit Submit Check my work 13 On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 40 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $18 on June 13. Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. What is the par per share after the split? points eBook Print References Complete this question by entering your answers in the tabs below. General Journal Par value What is the par per share after the split? (Enter your answer in dollars rounded to 2 decimal places.) Par value per share General Journal Par value This is a numeric cell, so please enter numbers only

Explanation / Answer

In our case, the number of shares gets doubled without change in common stock. Therefore no entry is required to give effect to the stock split.

the par value per share after the split will be $1 ($2/2)

Accounts titles and explanation Debit credit No entry is required no entry is required

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