Fox Ltd, a limited company, has authorised share capital of 200,000 ordinary shares of $1 each. The
Question:
Fox Ltd, a limited company, has authorised share capital of 200,000 ordinary shares of $1 each. The company decided to issue 100,000 ordinary shares at $1.30.
These shares were fully subscribed and paid up. Prepare the journal to record the issue of ordinary shares.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (9 reviews)
The journal entry to record the issue of ordinary shares w...View the full answer
Answered By
BillClinton Muguai
I have been a tutor for the past 5 years. I have experience working with students in a variety of subject areas, including computer science, math, science, English, and history. I have also worked with students of all ages, from elementary school to college. In addition to my tutoring experience, I have a degree in education from a top university. This has given me a strong foundation in child development and learning theories, which I use to inform my tutoring practices.
I am patient and adaptable, and I work to create a positive and supportive learning environment for my students. I believe that all students have the ability to succeed, and it is my job to help them find and develop their strengths. I am confident in my ability to tutor students and help them achieve their academic goals.
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting For Cambridge International AS And A Level
ISBN: 9780198399711
1st Edition
Authors: Jacqueline Halls Bryan, Peter Hailstone
Question Posted:
Students also viewed these Business questions
-
A limited company has authorised share capital of: 500,000 ordinary shares of $0.50 each 200,000 5 percent preference shares of $1 each. The company had actually issued 80 percent of its ordinary...
-
S. Green Ltd has authorised share capital of 100 000 ordinary shares of $1 each. The company decided to issue 50 000 ordinary shares at $1.50 each. These shares were fully subscribed and paid up....
-
A limited company has an authorised capital of 400,000 ordinary shares of $0.50 each. The issued capital is $150 000. The directors declare a dividend of $0.10 per share. What will the dividend...
-
8) Implement a class UserNames which requires an ArrayList of names (user names), consider the following static methods methods: initilizeUserName(), deleteUserName(), addUserName() and display...
-
Do consumers rely on one type of decision rule or another? Can the rules be used together?
-
Your working papers for an integrated audit being performed under PCAOB Standard No. 5 include the narrative description below of the cash receipts and billing portions of internal control of...
-
Given tax neutrality, would you prefer to receive dividends or realise capital gains? Same question given the French tax system.
-
Silver Lining, Inc., provides investment advisory services. The company adjusts its accounts monthly, but performs closing entries annually on December 31. The firms unadjusted trial balance dated...
-
K You have 204 feet of fencing to enclose a rectangular region. What is the maximum area of the region? OA. 2,597 square feet OB. 41,616 square feet OC. 2,601 square feet OD. 10,404 square feet
-
Locate the centroid of the semi-elliptical area shown in figure. (Ans: 0.424 ft) y = x dy = 1 (-x, y), 1 ft y = y -2 ft -2 ft 2 ft 2 ft /2
-
The statement of financial position for Sara and Tracey at 30 November 2014 was as follows. Sara and Tracey share profits and losses equally. They have agreed to dissolve the partnership as Sara has...
-
Equity section Which of the following will not appear in the equity section of a limited company statement of financial position? A. 5 percent debenture B. General reserve C. Retained earnings D....
-
What are the financial statement effects of establishing an allowance for uncollectible accounts?
-
An Insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at the child's birth. The details of the policy are as follows:...
-
if the safe loading dose of phenytoin is 15- 20 mg/kg, and achild weighs 44 lbs, is a 300 mg loading dose order within the saferange. show the working and give reasons why it is within the safeor not...
-
Under Armour, Incorporated is an American supplier of sportswear and casual apparel. Following are selected fil company for the period 2009 to 2013. Profit margin (%) Retention ratio (%) Asset...
-
You're about to buy a new car for $10,000. The dealer offers you a one-year loan where you pay $849.67 every month for the next 12 months. Since you pay = $849.67 * 12 $10,196 in total, the dealer...
-
1- [Equilibrium and Efficiency] 20 points (10 points each) a-Draw a Supply and Demand diagram and determine the equilibrium price and quantity. Explain - using words- why the intersection of supply...
-
Explain whether you agree with the following statement: "The reason the aggregate demand curve slopes downward is that when the price level is higher, people cannot afford to buy as many goods and...
-
Use nodal analysis to determine voltages v1, v2, and v3 in the circuit Fig. 3.76. Figure 3.76 4 S 3i, 2 A 4A
-
Taken from a managerial point of view, what do you think is the major OB challenge facing businesses today?
-
Compare and contrast the three levels of OB analysis.
-
Describe the two main levels of diversity. Give an example for each.
-
All costs in a homogeneous cost pool have Question 60 options: A) only one cost driver that will accurately represent the relationship between the costs and the activity. B) to be adjusted at year...
-
Which of the following is true for B-corps? Question 3 options: a) It is a for-profit corporation. b) It is a nonprofit corporation. c) They are taxed differently than c-corporations. d) They are...
-
Because interest earned on U.S. bonds and notes is not taxed by Oregon, special treatment is required if expenses related to this income is deducted as an itemized expense on your federal return....
Study smarter with the SolutionInn App