Question
ABC company offered 70,000 shares to the public of worth $10 in $12each give entries in journal general to record issuence of shares under each
ABC company offered 70,000 shares to the public of worth $10 in $12each give entries in journal general to record issuence of shares under each case
Case 1
The company received 70000 applications and allotted 70000 shares
Case 2
The company received 80000 applications and allotted 70000 shares and refund the excess amount of application
Case 3
The company received 55000 applications and allotted 55000 shares
Case 4
The company received 58000 applications and allotted 58000 shares and the remaining shares were issued to the underwriter as per agreement the commission was 5%
Please give the entries separately for each case
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started