Reporting stockholders’ equity after a stock split 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.