Safa Inc. has had the following stock splits since its inception. Effective...
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Accounting
Safa Inc. has had the following stock splits since its inception.
Effective Date Split Amount
June 9, 2016 5 for 2
March 20, 2009 2 for 1
a.If the par value of Safa shares was originally $1, what would Safa report as par value per share on its 2018 balance sheet? 4 marks
b.On August 23, 2019, Safas stock traded for about $300. All things equal, if Safa had never had a stock split, what would a share of Safa have traded for that same day? 4 marks
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