Obi Co. had 181937 shares outstanding as of March 18th 20x8. On May 9th 20x8...
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Obi Co. had 181937 shares outstanding as of March 18th 20x8. On May 9th 20x8 Obi announced a two-for-one stock split. The shares were selling at $38.19 on March 18th and $45.50 on May 9th. Which of the following statements is true? Select one: a. The number of shares outstanding after the split is 90968 b. The number of shares outstanding after the split is 363874 c. To record the proper amount of new shares outstanding, 363874, a credit will be recorded to contributed surplus d. The journal entry to record the stock split includes a credit to retained earnings of $1329959 Check
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