Reporting stockholders’ equity after a stock split [10-15 min]
Snake Golf Club, Corp., had the following stockholders’ equity at December 31, 2011:
STOCKHOLDERS’ EQUITY | |
Paid-in capital: | |
Common stock, $1.00 par, 650 shares authorized, 290 issued.......................................................... | $ 290 |
Paid-in capital in excess of par—common............................................................................... | 580 |
Total paid-in capital ............................................................................................................ | 870 |
Retained earnings ................................................................................................................................... | 2,900 |
Total stockholders’ equity..................................................................................................................... | $3,770 |
On June 30, 2012, Snake split its common stock 2 for 1.
Requirements
1. Make the memorandum entry to record the stock split.
2. Prepare the stockholders’ equity section of the balance sheet immediately after the split.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.