Provide explanations.

Exercise 3. Share split and Reverse Share split On June 30,2018, the capital accounts of Leviticus Company are as follows: Ordinary Share Capital, P25 par, 20,000 shares Ordinary Share Premium P500,000 100,000 Required: 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. 2. State the number of capital shares issued and outstanding for each independent transaction