Business, 06.05.2020 00:39 dayanirisr45

The Baxter Company has 30,000 shares of $3 par common stock outstanding. The company’s board of directors declares a 3-for-1 stock split when the market price is $9 per share.
1. Which of the following statements are correct? (You may select more than one answer)
a. After the stock split, the company will have 10,000 shares, each with an approximate market value of $9.
b. After the stock split, the company will have 90,000 shares, each with an approximate market value of $3.
c. The par amount of the shares becomes $1 per share.
d. No journal entry is recorded.

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The Baxter Company has 30,000 shares of $3 par common stock outstanding. The company’s board of dire...

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