Fri May 24 10:3182 AM 0 = 12(b)Write the journal entry on 5 November 2022 when the call was made. (1 mark) 12 On 1 July 2022 ABC Ltd had share capital of $500,000, consisting of 100,000 ordinary shares originally issued at $5 each. . On 1 August 2022 a prospectus was issued for a new share issue of 200,000 shares at $7 each, where $2 is payable on application, $3 becomes payable when the shares are allotted and $2 becomes payable when the call is made. ⚫ The application money was received on 1 September 2022. There was an over- subscription, as the company received applications for 220,000 shares. . The 200,000 shares were allotted on 15 September 2022, and on the same day ABC refunded the unsuccessful investors their application money. • The allotment money was received on 5 October 2022. . The call was made on 5 November 2022 . The call money was received on 6 December 2022. Format Σ Χ -> BI U x, x Help
Fri May 24 10:3182 AM 0 = 12(b)Write the journal entry on 5 November 2022 when the call was made. (1 mark) 12 On 1 July 2022 ABC Ltd had share capital of $500,000, consisting of 100,000 ordinary shares originally issued at $5 each. . On 1 August 2022 a prospectus was issued for a new share issue of 200,000 shares at $7 each, where $2 is payable on application, $3 becomes payable when the shares are allotted and $2 becomes payable when the call is made. ⚫ The application money was received on 1 September 2022. There was an over- subscription, as the company received applications for 220,000 shares. . The 200,000 shares were allotted on 15 September 2022, and on the same day ABC refunded the unsuccessful investors their application money. • The allotment money was received on 5 October 2022. . The call was made on 5 November 2022 . The call money was received on 6 December 2022. Format Σ Χ -> BI U x, x Help
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
12b
Transcribed Image Text:Fri May 24 10:3182 AM
0 =
12(b)Write the journal entry on 5 November 2022 when the call was made. (1 mark)
12 On 1 July 2022 ABC Ltd had share capital of $500,000, consisting of 100,000
ordinary shares originally issued at $5 each.
. On 1 August 2022 a prospectus was issued for a new share issue of 200,000
shares at $7 each, where $2 is payable on application, $3 becomes payable
when the shares are allotted and $2 becomes payable when the call is made.
⚫ The application money was received on 1 September 2022. There was an over-
subscription, as the company received applications for 220,000 shares.
. The 200,000 shares were allotted on 15 September 2022, and on the same day
ABC refunded the unsuccessful investors their application money.
• The allotment money was received on 5 October 2022.
. The call was made on 5 November 2022
. The call money was received on 6 December 2022.
Format
Σ Χ
->
BI U x, x
Help
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