Solved: What is the dollar balance of caris common stock account, Accounting Basics

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What is the dollar balance of caris common stock account

Question - On September 1, 2013, Cari Company's balance sheet indicates there are 600,000 shares of $30 par value common shares in the Common Stock account and $4,500,000 in the Additional Paid-in Capital account. There are 2,000,000 shares authorized. On September 2, Cari splits its stock 2 for 1.

What is the dollar balance of Cari's common stock account immediately after the stock split?

A. $18,000,000

B. $ 9,000,000

C. $72,000,000

D. $36,000,000

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Accounting Basics: What is the dollar balance of caris common stock account

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