pointsSave AnsweOn September 1, a corporation had 100,000 shares of $2 par value common stock, and $1,000,000 of retained earnings. The corporation decides issues a 4-for-1 stock split. The generaljournal entry to record this transaction is:O A. Retained earnings (debit) and common stock (credit).OB. No journal entry.OC. Retained earnings (debit) and stock split (credit).D. Retained earnings (debit) and common stock split distribution (credit).

Name: pointsSave AnsweOn September 1, a corporation had 100,000 shares of $
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Description: pointsSave AnsweOn September 1, a corporation had 100,000 shares of $2 par value common stock, and $1,000,000 of retained earnings. The corporation decides issues a 4-for-1 stock split. The generaljournal entry to record this transaction is:O A. Ret

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On September 1, a corporation had 100,000 shares of $2 par value common stock, and $1,000,000 of retained earnings. The corporation decides issues a 4-for-1 stock split. The general ournal entry to record this transaction is: O A. Retained earnings (debit) and common stock (credit). OB. No journal entry. OC. Retained earnings (debit) and stock split (credit). O D. Retained earnings (debit) and common stock split distribution (credit).

On September 1, a corporation had 100,000 shares of $2 par value common stock, and $1,000,000 of retained earnings. The corporation decides issues a 4-for-1 stock split. The general ournal entry to record this transaction is: O A. Retained earnings (debit) and common stock (credit). OB. No journal entry. OC. Retained earnings (debit) and stock split (credit). O D. Retained earnings (debit) and common stock split distribution (credit).

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 10MC: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the...

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