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Python Metal Products Ltd. reported the following shareholders' equity at October 31,2023: (I)(Click...

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Accounting

Python Metal Products Ltd. reported the following shareholders' equity at October 31,2023:
(I)(Click the icon to view the shareholders' equity data.)
On November 14,2023, Python Metal Products Ltd. split its common shares 2 for 1.
Required
Make the memorandum entry to record the share split.
Prepare the shareholders' equity section of the balance sheet immediately after the split.
Requirement 1. Make the memorandum entry to record the share split.
On November 14,2023, Python distributed one new common share for each old share previously outstanding.
Number of shares issued and outstanding before the share split:
Number of shares issued and outstanding after the share split:
Shareholders' equity
\table[[Common shares, unlimited shares authorized, 80,000 shares issued and outstanding],[Retained earnings,,480,000],[Total shareholders' equity,$,720,000]]
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