Question: answer fast please i dont have time Rayan Co. has outstanding 20,000 shares of 10 par value ordinary shares and retained earnings of 500,000. If
Rayan Co. has outstanding 20,000 shares of 10 par value ordinary shares and retained earnings of 500,000. If Kenan declares a 2-for 1 share split when the fair value of the shares is 85 per share the entry includes: 1. OA debit to Retained Earnings for 20,000 2. A credit to Share Premium-Ordinary for 65,000 3. A debit to cash for 85,000 4. No entry is required for a share split
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