Business, 27.09.2019 22:30 thesarav

On september 1, ziegler corporation had 50,000 shares of $5 par value common stock, and $1,500,000 of retained earnings. on that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split.
what would the general journal entry to record this transaction be:
-debit retained earnings $750,000; credit common stock split distributable $750,000.
-debit retained earnings $750,000; credit common stock $750,000.
-debit retained earnings $250,000; credit common stock $250,000.
-debit retained earnings $250,000; credit stock split payable $250,000.
-no entry is made for this transaction.

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On september 1, ziegler corporation had 50,000 shares of $5 par value common stock, and $1,500,000 o...