Ask Question
BusinessBusiness
8 June, 21:14

In 2014 the market value of Apple Corporation's common stock had become excessively high. On June 6th, 2014 Apple Inc. declared a 7-for-1 stock split for the 861.38 million outstanding shares of its $0.00007 par common stock. What is the number of common shares outstanding after the stock split

+2
Answers (1)
  1. 8 June, 21:30
    0
    The number of common shares outstanding after stock-split is 6029.66 million

    Explanation:

    A 7-1 stock split implies that for every share that a shareholder has previously, he gets 7 now.

    As a result, the total outstanding common shares now would the previous common shares multiplied by 7.

    Hence the new outstanding common shares = 861.38 million*7=6029.66 million

    The equity of equity share capital share stays the same as there was no new cash investment in the company but the par value per share is also divided by 7 to give $0.00001 per share ($0.00007/7)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “In 2014 the market value of Apple Corporation's common stock had become excessively high. On June 6th, 2014 Apple Inc. declared a 7-for-1 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
As a salesperson asks questions about a prospect's transportation system, the prospect says, "What I really want is reliable transportation at the lowest price I can get.
Answers (1)
Sunland Company issued $530,000, 15-year, 6% bonds at 96. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Answers (1)
The Quimbys obtain a loan that starts out at 5.5% interest. After five years, the interest rate will adjust to whatever the current market rate is. This is known as a/an:
Answers (1)
Fernstrom Corporation has two divisions: East and West. Data from the most recent month appear below: East West Sales $ 330,000 $ 144,000 Variable expenses $ 132,000 $ 76,320 Traceable fixed expenses $ 140,000 $ 43,000 The company's common fixed
Answers (1)
steak n fries restaurant company decision makers view a particular risk in the consumption of steak n fries profucts as open and obvious.
Answers (1)
New Questions in Business
The same person opens incoming mail and posts the accounts receivable subsidiary ledger.
Answers (1)
George failed to pay $5,000 of income tax due with the filing of his return, which was timely filed on April 15th. He waits until June 10th after April 15th to pay the tax. How much will his penalties be?
Answers (1)
On November 1, 2019, Juno, Inc. declared a dividend of $3.00 per share on common stock. Juno, Inc. has 10,000 shares of common stock outstanding and 20,000 shares of preferred stock.
Answers (1)
Fallon Corporation reports net income of $370,000. Accounts Receivable balances at the beginning and end of the year were $40,000 and $48,000, respectively. Beginning and ending Inventory balances were $60,000 and $54,000, respectively.
Answers (1)
An asset was purchased for $60,000 and originally estimated to have a useful life of 10 years with a residual value of $3,000.
Answers (2)
Home » Business » In 2014 the market value of Apple Corporation's common stock had become excessively high. On June 6th, 2014 Apple Inc. declared a 7-for-1 stock split for the 861.38 million outstanding shares of its $0.00007 par common stock.
Sign Up Forgot Password?