Which of the entry includes for janae corporation

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Reference no: EM132945147

Problem 1: Janae Corporation has outstanding 10,000 shares of 10 par value ordinary shares and retained earnings of 500,000. If Janae declares a 2-for-1 share split when the fair value of the shares is 85 per share, the entry includes:

a. A debit to Retained Earnings for 10,000.
b. A credit to Share Premium-Ordinary for 75,000.
c. A debit to cash for 85,000.
d. No entry is required for a share split.

Reference no: EM132945147

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