Use the following information to answer questions below
On September 1, 2016, Utah Company's balance sheet indicates there are 1,600,000 shares of $60 par value common shares in the Common Stock account and $9,000,000 in the Additional Paid-in Capital account. There are 4,000,000 shares authorized. On September 2, Utah splits its stock 2 for 1.
-How many of Utah's shares of common stock are issued and outstanding immediately after the stock split?
A) 600,000
B) 2,400,000
C) 3,200,000
D) 8,000,000
Correct Answer:
Verified
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