Bandara Gold Inc.'s equity section on the October 31, 2023, balance sheet showed the following information: Common shares, unlimited shares authorized, 920,000 shares issued and outstanding Retained earnings $1,932,000 118,000 On November 15, 2023, Bandara's board of directors declared a 3:1 share split to the shareholders of record on November 20 to be distributed on November 29. The market prices of the shares on November 15, 20, and 29 were $2.55, $0.84, and $0.87, respectively. Required: 1. Prepare the required entries for November 15, 20, and 29. Date Nov 15 Note Disclosure Note disclosure required Nov 20 No journal entry required Nov 29 No journal entry required Amount 0 0 my work
Bandara Gold Inc.'s equity section on the October 31, 2023, balance sheet showed the following information: Common shares, unlimited shares authorized, 920,000 shares issued and outstanding Retained earnings $1,932,000 118,000 On November 15, 2023, Bandara's board of directors declared a 3:1 share split to the shareholders of record on November 20 to be distributed on November 29. The market prices of the shares on November 15, 20, and 29 were $2.55, $0.84, and $0.87, respectively. Required: 1. Prepare the required entries for November 15, 20, and 29. Date Nov 15 Note Disclosure Note disclosure required Nov 20 No journal entry required Nov 29 No journal entry required Amount 0 0 my work
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Bandara Gold Inc.'s equity section on the October 31, 2023, balance sheet showed the following information:
Common shares, unlimited shares authorized,
920,000 shares issued and outstanding
Retained earnings
$1,932,000
118,000
On November 15, 2023, Bandara's board of directors declared a 3:1 share split to the shareholders of record on November 20 to be
distributed on November 29. The market prices of the shares on November 15, 20, and 29 were $2.55, $0.84, and $0.87, respectively.
Required:
1. Prepare the required entries for November 15, 20, and 29.
Date
Nov 15
Note Disclosure
Note disclosure required
Nov 20
No journal entry required
Nov 29
No journal entry required
Amount
0
0
my work
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