Joey Ltd currently has 125,000 ordinary shares issued for $2.25 each which are fully paid....
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Accounting
Joey Ltd currently has 125,000 ordinary shares issued for $2.25 each which are fully paid. The directors decide to make a 1-for-5 bonus issue of shares to the existing shareholders using the company's retained earnings. The bonus shares will be issued at a value of $2.75 each. The correct journal entry to record the issue of the bonus shares is
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