Chicago Clock Corporation Issued a 3-For-2 Stock Split of Its

question 110

Multiple Choice

Chicago Clock Corporation issued a 3-for-2 stock split of its common stock,which had a par value of $100 before the split.What dollar amount of retained earnings should be transferred to the common stock account?

• A)Par value of $100 per share.
• B)Market value per share on the issue date.
• C)Half of the previous total amount in the common stock account.
• D)Retained earnings are not transferred to the common stock account.

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Definitions:

Kaposi's Sarcoma

A type of cancer that causes patches of abnormal tissue to grow under the skin, in the lining of the mouth, nose, and throat, or in other organs.

Purplish Blotches

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