Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ACY Limited issued 8,000 ordinary shares on 14 February 2018 at $9 per share (no par value). On 15 February 2018, an invoice of $3,000

image text in transcribed
"ACY Limited issued 8,000 ordinary shares on 14 February 2018 at $9 per share (no par value). On 15 February 2018, an invoice of $3,000 was received from the company's lawyer, which included a service fee of $200 for the share issuance mentioned above." How much share capital - ordinary shall be recognised for the above transaction? Select one: O A. $75,000 O B. $72,000 OC. $71,800 OD. $69,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Tax Accounting

Authors: Greg Shields

1st Edition

163716128X, 978-1637161289

More Books

Students also viewed these Accounting questions

Question

Understand the use of different performance-rating techniques

Answered: 1 week ago