Decor and More Imports recently reported the following stockholders' equity: Suppose Decor and More split its common

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Decor and More Imports recently reported the following stockholders' equity:
Stockholders' Equity Paid-In Capital: Common Stock-$1 Par Value; 490,000,000 shares authorized, 119,000,000 shares issue

Suppose Decor and More split its common stock 2-for-1 in order to decrease the market price per share of its stock. The company's stock was trading at $17 per share immediately before the split.
Requirements
1. Prepare the stockholders' equity section of the Decor and More Imports balance sheet after the stock split.
2. Were the account balances changed or unchanged after the stock split?

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...
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Horngrens Financial And Managerial Accounting The Financial Chapters

ISBN: 9780134486840

6th Edition

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

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