The Tiger Football Corporation has 9,000 shares of $1.50 par value common stock issued and outstanding. The board of directors declared a 3-for-1 stock split May 10, distributable on June 15, to stockholders of record on June 1. The Retained Earnings account balance is $50,000 on May 10. Prepare the equity section of the balance sheet on May 10 and June 15, before and after the stock split.

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The Answer of The Tiger Football Corporation has 9,000 shares of $1.50 par value common stock issued and outstanding. The board of directors declared a 3-for-1 stock split May 10, distributable on June 15, to stockholders of record on June 1. The Retained Earnings account balance is $50,000 on May 10. Prepare the equity section of the balance sheet on May 10 and June 15, before and after the stock split.

The Tiger Football Corporation Has 9,000 Shares of $1