Lipton Travel, Inc., had the following stockholders equity at May 31: On June 30, Lipton Travel, Inc.,

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Lipton Travel, Inc., had the following stockholders’ equity at May 31: image text in transcribed

On June 30, Lipton Travel, Inc., split its common stock 2-for-1.
Requirements

1. Make any necessary entry to record the stock split.
2. Prepare the stockholders’ equity section of the balance sheet immediately after the split.

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Financial Accounting

ISBN: 9780136060482

1st Edition

Authors: Jeffrey Waybright, Robert Kemp

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Question Posted: May 13, 2024 05:01 AM

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Lipton Travel, Inc., had the following stockholders equity at May 31: On June 30, Lipton Travel, Inc.,

Question:

Stockholders' Equity Paid-in Capital: Common Stock, $10 par, 200,000 shares authorized, 50.000 shares issued and outstanding $500,000 Paid-in Capital in Excess of Par 100,000 Total Paid-in Capital Retained Earnings Total Stockholders' Equity $600,000 200,000 $800,000

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Financial Accounting

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