Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

why is the answer B please explain ments 13.9 A limited liability company issued 50,000 ordinary shares of 25c each at a premium of 50c

why is the answer B please explain

image text in transcribed
ments 13.9 A limited liability company issued 50,000 ordinary shares of 25c each at a premium of 50c per share. ting account. The cash received was correctly recorded but the full amount was credited to the ordinary share capital Which one of the following journal entries is needed to correct this error? DEBIT CREDIT Share premium account 25,000 Share capital account 25,000 Share capital account 25,000 Share premium account 25,000 Share capital account 37,500 Share premium account 37,500

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

Fundamentals Of Financial Accounting

Authors: Fred Phillips, Shana Clor Proell, Robert Libby, Patricia Libby

7th Edition

1265440166, 978-1265440169

More Books

Students also viewed these Accounting questions