Question 1 What are share splits and what accounting entries are necessary when a share split is undertaken? Question 2 What forms of preferential treatment can the holders of preference shares receive over and above the rights of holders of ordinary shares? Question 3 On 1 July 2019, ABC Ltd issued 5 million shares at $5.00 each. All the shares were subscribed for. ABC Ltd incurred the following costs that were associated with the share issue: $ Advertising of share issue and prospectus 10 000 Accounting fees associated with drafting of prospectus 4000 Legal expenses associated with share issue 5000 REQUIRED 1 Prepare the journal entries necessary to account for the issue of the shares