Solution:
Particulars | Before stock dividend | Adjustment | After stock dividend |
Contributed capital: | |||
Common shares | $220,000.00 | $36,300.00 | $256,300.00 |
Contributed surplus | $11,700.00 | $0.00 | $11,700.00 |
Total contributed capital | $231,700.00 | $36,300.00 | $268,000.00 |
Retained earnings | $72,000.00 | -$36,300.00 | $35,700.00 |
Total shareholder's equity | $303,700.00 | $0.00 | $303,700.00 |
On December 31, 2016, the shareholders' equity section of the balance sheet of R&L Corporation reflected...
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