Question

Clubhouse Landing, Inc. had the following shareholders’ equity at May 31:
Shareholders’ Equity
Share Capital:
Common Shares, 30,000 shares authorized,
10,000 issued and outstanding ...... $ 30,000
Total Share Capital ............ 30,000
Retained Earnings ............ 700,000
Total Shareholders’ Equity ........ $730,000
On June 30, Clubhouse Landing, Inc. split its common shares 5-for-1. Requirements
1. Make any necessary entries to record the stock split.
2. Prepare the shareholders’ equity section of the balance sheet immediately after the split.


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  • CreatedJuly 08, 2015
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