At the Time That Kirby Company Issued a 2-For-1 Stock

question 25

Multiple Choice

At the time that Kirby Company issued a 2-for-1 stock split,the company had 5,000 shares of $6 par value common stock outstanding.Stockholders' equity also included $15,000 of paid in capital in excess of par value-common and $22,000 of retained earnings.Which of the following statements regarding the impact of the stock split is true?

• A)The balance of the common stock account will be $30,000.
• B)The amount of paid-in capital in excess of par-common will become $150,000.
• C)The balance in the retained earnings account will become $11,000.
• D)The number of outstanding shares of common stock will be 2,500.

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Definitions:

Primary Motor Cortex

The region of the cerebral cortex involved in the planning, control, and execution of voluntary movements.

Frontal Lobe

The part of the brain located at the front of each cerebral hemisphere, responsible for motor function, problem solving, spontaneity, memory, language, initiation, judgement, impulse control, and social and sexual behavior.

Parietal Lobe

A region of the brain located behind the frontal lobe, responsible for processing sensory information such as touch, pain, and spatial orientation.

Wernicke's Area

A region of the brain concerned with the comprehension of language, located in the cortex of the dominant temporal lobe.