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Exercise #1 On March 30, 2020, the capital account of Mc Kay Share Pooh Ent. Are as follows: Ordinary Share Capital, P20 par, 50,000 shares Ordinary Share Premium P1,000,000 200,000 Instructions: 1. Prepare the necessary journal entry to record each of the following independent transactions. a. The company undertakes a 5 for 1 share split b. The company undertakes a 1 for 4 share split c. One new ordinary share with par value of P15 is issued in exchange for one ordinary share with a par value of P25. d. One new ordinary share with s stated value of P25 is issued in exchange for one ordinary share with a par value of P25. 2. State the number of capital shares issued and outstanding for each independent transaction. Exercise #1 On March 30, 2020, the capital account of Mc Kay Share Pooh Ent. Are as follows: Ordinary Share Capital, P20 par, 50,000 shares Ordinary Share Premium P1,000,000 200,000 Instructions: 1. Prepare the necessary journal entry to record each of the following independent transactions. a. The company undertakes a 5 for 1 share split b. The company undertakes a 1 for 4 share split c. One new ordinary share with par value of P15 is issued in exchange for one ordinary share with a par value of P25. d. One new ordinary share with s stated value of P25 is issued in exchange for one ordinary share with a par value of P25. 2. State the number of capital shares issued and outstanding for each independent transaction. Exercise #1 On March 30, 2020, the capital account of Mc Kay Share Pooh Ent. Are as follows: Ordinary Share Capital, P20 par, 50,000 shares Ordinary Share Premium P1,000,000 200,000 Instructions: 1. Prepare the necessary journal entry to record each of the following independent transactions. a. The company undertakes a 5 for 1 share split b. The company undertakes a 1 for 4 share split c. One new ordinary share with par value of P15 is issued in exchange for one ordinary share with a par value of P25. d. One new ordinary share with s stated value of P25 is issued in exchange for one ordinary share with a par value of P25. 2. State the number of capital shares issued and outstanding for each independent transaction