Drapery Unlimited had outstanding 400 shares of $100 par common stock that had been issued at $120.On March 18, 2010, a four-for-one split was declared and new $20 par stock was issued.
Required:
Provide the required journal entry, if any, to record the stock split.

Question

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The Answer of Drapery Unlimited had outstanding 400 shares of $100 par common stock that had been issued at $120.On March 18, 2010, a four-for-one split was declared and new $20 par stock was issued.
Required:
Provide the required journal entry, if any, to record the stock split.

Drapery Unlimited Had Outstanding 400 Shares of $100 Par Common