Clubhouse Landing, Inc. had the following shareholders’ equity at May 31: Shareholders’ Equity Share

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. View Solution:
Clubhouse Landing Inc had the following shareholders equity at May