A Corporation Reported the Following Information at December 31, 2019

question 43

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A corporation reported the following information at December 31, 2019:
A)On December 31, 2019, the board of directors issues a 3-for-1 stock split. What impact will the split have on the stock's par value?
B)What journal entry is required to record the split?
C)Record the declaration of a cash dividend of $1 per share on January 10, 2020. The dividend will be paid on January 31, 2020 to shareholders of record on January 24, 2020.

Definitions:

Spiritual Mediator

An individual believed to have the ability to communicate with the spiritual world, often acting as a go-between for the community and spiritual beings.

Healer

An individual who is believed to be capable of curing illness or restoring health through alternative practices, spiritual methods, or traditional medicine, often rooted in cultural or religious beliefs.

Shamanism

A religious practice that involves a practitioner who is believed to interact with a spirit world through altered states of consciousness, such as trance, for healing or divination purposes.

Neurological Inheritance

The genetic transmission of brain-related traits and conditions from parents to offspring.