question archive On January 15, 2020, the board of directors of Miz Corporation voted to consolidate its outstanding common shares on the basis of one post-consolidation common share for every 20 pre-consolidation common shares (that is, a one-for-twenty reverse stock split]
On January 15, 2020, the board of directors of Miz Corporation voted to consolidate its outstanding common shares on the basis of one post-consolidation common share for every 20 pre-consolidation common shares (that is, a one-for-twenty reverse stock split]
Subject:AccountingPrice: Bought3
On January 15, 2020, the board of directors of Miz Corporation voted to consolidate its outstanding common shares on the basis of one post-consolidation common share for every 20 pre-consolidation common shares (that is, a one-for-twenty reverse stock split]. Miz Corporation common shares had a market price on January 15, 2020, of $0.50 per share. The shareholders' equity section of the statement of ?nancial position of Miz Corporation at December 31, 2019, is given below: Shareholders' equity: Common shares. unlimited authorized. 10,580,000 shares issued and outstanding $52,900,000 Retained earnings (de?cit) (5,320,000) Total shareholders' equity $47,580,000 (31 X Your answer is incorrect. Determine the number of shares that are outstanding after the consolidation. Number of shares outstanding after consolidation 10'051'000
