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...

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