The appropriate journal entry to record the cash collected from applicants for shares before the shares are issued is:
A) Increase Cash account: Increase Issued Share Capital account
B) Increase Application account: Decrease Issued Share Capital account
C) Increase Issued Share Capital account: Decrease Cash Trust account
D) Increase Cash Trust account: Increase Application account.
Correct Answer:
Verified
Q2: The amount of the surplus payable to
Q3: The costs of issuing equity effectively:
A)reduce the
Q4: Without the prior approval of shareholders a
Q5: Underwriting and other share issue costs paid
Q6: In respect to the issue of shares
Q8: The entry to record the reissue of
Q9: If the balance in a forfeited shares
Q10: When shares are issued fully payable on
Q11: The appropriate account to record any excess
Q12: Following the allotment the balance in the
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