A firm has 2,400,000 authorized shares, 530,000 issued shares, and 340,000 outstanding shares before completing a...
A firm has 2,400,000 authorized shares, 530,000 issued shares, and 340,000 outstanding shares before completing a stock split. The shares have a par value of $0.09. The firm completes a forward 3-for-1 split. How many authorized shares does the firm have after the stock split?
Homework Answers
Answer -
| Particulars | No. of shares | Explanation |
| Authorized shares after the stock split | 2400000 shares |
Whether a company is private or public, the number of authorized shares cannot change without amendments to the company's articles of incorporation or charter. A forward split doesn't affect the number of authorized shares unless the forward split will require more shares than are already authorized. |
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