What occurred as a result of the split

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Reference no: EM131214356

The balance of the $0.60 par Common Stock account for Company was $60,000 before its recent 3-for-1 stock split. The market price of the stock was $30 per share.

What occurred as a result of the split?

a. The par value per share decreased to $10 per share.

b. The balance in the common stock account increases to $180,000.

c. The market value of each share would theoretically be reduced to $10 per share.

d. The balance in the common stock account declines to $20,000.

e. The balance in the retained earnings account was decreased.

Reference no: EM131214356

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