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. what is the par per share after the split

No journal entry is required

The par per share after the split $1

Explanation:

If a stock split is not to be effected in the form of a stock dividend, no entry is recorded. The balance in the common stock account remains the same.

The par value before stock split was $2, board of directors declared a 2 for 1 split so the par value will be reduced by half.

We will calculate the par value after stock split by

= $2 / 2

= $1

prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend.

what is the par per share after the split?

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