Which of the following statements correctly describes the above journal entry?
A) The entry is for an entity not listed on the Australian Stock exchange, and shows the buy back of shares as a result of a resolution of the Board.
B) The entry is for an entity listed on the Australian Stock exchange, and shows the buy back of shares as a result of a resolution of the Board.
C) The entry is for an entity not listed on the Australian Stock exchange, and shows the forfeiture of shares as a result of a failure by some shareholders to meet a call on the shares.
D) The entry is for an entity listed on the Australian Stock exchange, and shows the forfeiture of shares as a result of a failure by some shareholders to meet a call on the shares.
E) The entry is for a company unable to fully subscribe an initial public offering.
Correct Answer:
Verified
Q43: When an entity issues shares,until such time
Q44: If a company has created a forfeited
Q46: Where there is a redemption of preference
Q47: In recognising accounting errors that were made
Q48: A forfeited shares account is:
A) A revenue
Q53: The effect of a bonus issue to
Q54: Where there are changes in accounting policies
Q56: An effect of a bonus issue to
Q58: When a company redeems preference shares:
A) It
Q59: Preference shares are often considered to be
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