Question
Which of the following statements correctly describes this journal entry: DR Cash at bank: 160,000 DR Forfeited shares account: 40,000 CR Share capital: 200,000 DR
Which of the following statements correctly describes this journal entry:
DR Cash at bank: 160,000 DR Forfeited shares account: 40,000 CR Share capital: 200,000 DR Forfeited shares account: 2,500 CR Cash at bank: 2,500
Group of answer choices
The entry shows the forfeiture of shares and refund as a result of a failure by some shareholders to meet a call on the shares.
The entry shows the buyback of shares as a result of a resolution of the Board.
The entry shows the forfeiture of shares as a result of a failure by some shareholders to meet a call on the shares.
The entry shows the forfeiture of shares as a result of a resolution of the Board.
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Proplan Weekly Financial Goal Planner Keep Track Of Your Financial Goals
Authors: Joaquin Contreras
1st Edition
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