Snake Golf Club Corp. had the following stockholders equity at December 31, 2013: Stockholders Equity Paid- In

Question:

Snake Golf Club Corp. had the following stockholders’ equity at December 31, 2013:

Stockholders’ Equity

Paid- In Capital:

Common Stock—$ 1 Par Value; 650 shares authorized,

290 shares issued and outstanding ........... $ 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, 2014, Snake split its common stock 2-for-1.

Prepare the stockholders’ equity section of the balance sheet immediately after the split. Assume the balance in retained earnings is unchanged from December 31, 2013.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...