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Show effect on the capital accounts of a two-for-one stock

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Reference no: EM132987181

Squash Delight Inc. has the following balance sheet:

Cash$65,000

Accounts receivable 370,000

Fixed assets 835,000

Total assets$1,270,000

Liabilities

Accounts payable$284,000

Notes payable 50,000

Common stock (100,000 shares @ $2 par) 200,000

Capital in excess of par 100,000

Retained earnings 636,000

Total liabilities & owners' equity$1,270,000

The firm's stock sells for $15 a share.

Problem a. Show the effect on the capital accounts of a two-for-one stock split.

Reference no: EM132987181

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