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What should be balances in the share premium and retained

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The shareholders of Dorr Company approved a two-for-one split of the entity's share capital, and an increase in authorized shares from 100,000 shares with P20 par value of 200,000 share with P10 par value, The shareholder's equity accounts immediately before the split shares were share capital P1,000,000, share premium P150,000 and retained earnings P1,350,000.

Problem 1: What should be the balances in the share premium and retained earnings, respectively, after the share split is effected?

Reference no: EM132738006

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