Which is not correct after the declaration of a share split

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Problem 1: The book value per share cannot be determined due to limited information. On October 1, 2019, ABC Corporation shareholders' equity showed: Ordinary Shares, P100 par value, 50,000 shares authorized; P3,000,000; Share Premium, P120,000; and Retained Earnings P1,200,000 Which of the following is not correct after the declaration of a 2-for-1 share split?

a. The authorized 50,000 shares at P100 par value will now be 100,000 shares at P50 par value.
b. There will be 40,000 unissued ordinary shares
c. The ordinary share, share premium and retained earnings balances will not change.
d. Total outstanding shares will be 60,000 shares at P100 par value.

Reference no: EM132803988

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