Business, 09.12.2020 21:50 student0724

On September 1, Ziegler Corporation had 63,000 shares of $5 par value common stock, and $189,000 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. The general journal entry to record this transaction is: a. Debit Retained Earnings $945,000; credit Common Stock $945,000.
b. Debit Retained Earnings $315,000; credit Common Stock $315,000.
c. Debit Retained Earnings $315,000; credit Stock Split Payable $315,000.
d. Debit Retained Earnings $945,000; credit Common Stock Split Distributable $945,000.
e. No entry is made for this transaction.

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On September 1, Ziegler Corporation had 63,000 shares of $5 par value common stock, and $189,000 of...

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