Bandara Gold Inc.'s equity section on the October 31, 2023, balance sheet showed the following information: Common shares, unlimited shares authorized, 1,100,000 shares issued and outstanding Retained earnings $1,320,000 133,000 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 $2.25, $0.75, and $0.89, respectively. Required: 1. Prepare the required entries for November 15, 20, and 29. Date Note Disclosure Amount
Bandara Gold Inc.'s equity section on the October 31, 2023, balance sheet showed the following information: Common shares, unlimited shares authorized, 1,100,000 shares issued and outstanding Retained earnings $1,320,000 133,000 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 $2.25, $0.75, and $0.89, respectively. Required: 1. Prepare the required entries for November 15, 20, and 29. Date Note Disclosure Amount
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,
1,100,000 shares issued and outstanding
Retained earnings
$1,320,000
133,000
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 $2.25, $0.75, and
$0.89, respectively.
Required:
1. Prepare the required entries for November 15, 20, and 29.
Date
Note Disclosure
Amount
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