Question

Rattler Canyon Construction, Inc., had the following stockholders’ equity at January 31:
Stockholders’ Equity
Paid-in Capital:
Common Stock, $2 par, 600,000 shares authorized,
40,000 shares issued and outstanding......... $ 80,000
Paid-in Capital in Excess of Par............. 32,000
Total Paid-in Capital............... $112,000
Retained Earnings.................. 400,000
Total Stockholders’ Equity............. $512,000

On February 28, Rattler Canyon Construciton, Inc., split its common stock 5-for-1.

Requirements
1. Make any necessary entry to record the stock split.
2. Prepare the stockholders’ equity section of the balance sheet immediately after the split.



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  • CreatedApril 29, 2014
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