Question 6 1 pts Wolfgang issue shares via installment. On 1st June they issue a prospectus to potential investors advertising that they will sell 1,500,000 shares at $1.10 each. Payable $0.80 on application, $0.20 on allotment, and $0.10 on call. By 15th September, the applications are all received, and 2,000,000 share applications were received. On 30th September, Wolfgang decide to apply excess applications to allotment. What journal entry should be entered on 15th September? Dr Cash Trust $2,200,000 Cr Application $2,200,000 Dr Cash Trust $1,600,000; Cr Application $1,600,000 O None of the other alternatives O Dr Application $400,000; Cr Allotment $400,000 Question 7 1 pts Occasionally, companies engage in important investing and financing activities which do not affect cash. If the amount of the transaction is significant, how should it be disclosed when financial statements are prepared? In both investing and financing activities In investing activities O In a note to the cash flow statement In a separate section in the cash flow statement with a corresponding zero balance Question 8 1 pts The information in the statement of cash flows helps investors, creditors and others do all of the following except: show the inflows and outflow of total comprehensive income on the accrual basis O estimate the company's needs for external financing O judge a company's ability to meet its obligations and pay dividends o assess a company's ability to produce future cash inflows