On January 1, 2013, Parquet Sales Issued 40,000 Shares of Common

question 141

Multiple Choice

On January 1, 2013, Parquet Sales issued 40,000 shares of common stock at a price of $22 per share. The stock has a par value of $1.00 per share. In mid-2014, due to dramatic increases in profits, the stock reached a market value of $90 per share. The board of directors approved a 2-for-1 stock split. After the stock split, what will the balance sheet show as the number of shares issued?

• A) 40,000
• B) 80,000
• C) 60,000
• D) 44,000

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Definitions:

Paleolithic Cave

Prehistoric sites that served as shelters for early humans, often decorated with early forms of art such as paintings and engravings on the cave walls.

Spotted Horses

Refers to prehistoric cave paintings, notably in the Lascaux Cave in France, where horses are depicted with spotted patterns on their coats, suggesting early human interaction with these animals.

Negative Handprints

Prehistoric cave art involving the application of pigment around a hand placed against a surface, leaving a silhouette or "negative" image of the hand.

Unifying Device

An element in art or literature that serves to bring together various components of the work, creating a cohesive and harmonious whole.