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On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split...

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Accounting

On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 80 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $29 on June 13.

Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

What is the par per share after the split? (Round your answer to 2 decimal places.)

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