Winston Corporation had the following balances in its shareholders' equity accounts as at May 31, 2015: Retained
Question:
Retained earnings .......................................................................... $268,000
Common shares, unlimited authorized, 40,000 issued and outstanding ........... 215,000
$2.50 preferred shares, unlimited authorized, 2,000 issued and outstanding ..... 86,000
On June 18, 2015, the board of directors declared a 4:1 share split.
Prepare the Shareholders' Equity section of the balance sheet for Winston Corporation on June 19, 2015.
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... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Winston Corporation Balance Sheet partial June 19 2015 Shareholders ...View the full answer
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Related Book For 
Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
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