Issue of shares Journal entries for issues of shares by installment Procedures Share applications received On allotment Receive money on allotment stage Refund to those unsuccessful applicants On Call Journal Entries DR Cash CR Application and Allotment - Ordinary Shares DR Application and Allotment – Ordinary Shares CR Share Capital DR Cash CR Application and Allotment - Ordinary Shares DR Application and Allotment - Ordinary Shares CR Cash DR Call Account CR Share Capital Call money received DR Cash CR Call Account
Issue of shares Journal entries for issues of shares by installment Procedures Share applications received On allotment Receive money on allotment stage Refund to those unsuccessful applicants On Call Journal Entries DR Cash CR Application and Allotment - Ordinary Shares DR Application and Allotment – Ordinary Shares CR Share Capital DR Cash CR Application and Allotment - Ordinary Shares DR Application and Allotment - Ordinary Shares CR Cash DR Call Account CR Share Capital Call money received DR Cash CR Call Account
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 5MC: Treasury stock is listed as a(n) __________ on the balance sheet. (a) current liability (b) current...
Related questions
Question
It is talking abut equity. What is "receive money on allotment stage" what money is it?
![Issue of shares
Journal entries for issues of shares by installment
Procedures
Share applications received
On allotment
Receive money on allotment
stage
Refund to those unsuccessful
applicants
On Call
Journal Entries
DR Cash
CR Application and Allotment - Ordinary Shares
DR Application and Allotment – Ordinary Shares
CR Share Capital
DR Cash
CR Application and Allotment - Ordinary Shares
DR Application and Allotment - Ordinary Shares
CR Cash
DR Call Account
CR Share Capital
Call money
received
DR Cash
CR Call Account](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F405a47b2-48e8-4035-8b7a-a714b465a78b%2F46b2a0e5-32cb-4642-94c0-d5a8309a354e%2F3b01u1c_processed.png&w=3840&q=75)
Transcribed Image Text:Issue of shares
Journal entries for issues of shares by installment
Procedures
Share applications received
On allotment
Receive money on allotment
stage
Refund to those unsuccessful
applicants
On Call
Journal Entries
DR Cash
CR Application and Allotment - Ordinary Shares
DR Application and Allotment – Ordinary Shares
CR Share Capital
DR Cash
CR Application and Allotment - Ordinary Shares
DR Application and Allotment - Ordinary Shares
CR Cash
DR Call Account
CR Share Capital
Call money
received
DR Cash
CR Call Account
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,