Effective April 8,2014,the shareholders of Kim Corporation approved a 2 for 1 split of the company's common shares,and an increase in authorized common shares from 100,000 shares to 200,000 shares.Kim's shareholders' equity accounts immediately before issuance of the stock split shares were as follows: Common shares,100,000 shares authorized; What should be the balances in Kim's common shares and retained earnings accounts immediately after the stock split?

Question

Effective April 8,2014,the shareholders of Kim Corporation approved a 2 for 1 split of the company's common shares,and an increase in authorized common shares from 100,000 shares to 200,000 shares.Kim's shareholders' equity accounts immediately before issuance of the stock split shares were as follows: Common shares,100,000 shares authorized;  What should be the balances in Kim's common shares and retained earnings accounts immediately after the stock split?

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The Answer of Effective April 8,2014,the shareholders of Kim Corporation approved a 2 for 1 split of the company's common shares,and an increase in authorized common shares from 100,000 shares to 200,000 shares.Kim's shareholders' equity accounts immediately before issuance of the stock split shares were as follows: Common shares,100,000 shares authorized;  What should be the balances in Kim's common shares and retained earnings accounts immediately after the stock split?

Effective April 8,2014,the Shareholders of Kim Corporation Approved a 2