Riverside Ltd is issuing shares payable by instalments. It completed the following transactions: Received an application for 2000 ordinary shares with a total issue price of $10 per share. The applicant paid one-quarter of the total issue price. Allotted the 2000 shares and collected a further half of the total issue price. Made a call on the shares and collected the balance still due. May 3 May 18 Aug 3 Requirement Record these transactions in the general journal. Explanations aren't required.
Riverside Ltd is issuing shares payable by instalments. It completed the following transactions: Received an application for 2000 ordinary shares with a total issue price of $10 per share. The applicant paid one-quarter of the total issue price. Allotted the 2000 shares and collected a further half of the total issue price. Made a call on the shares and collected the balance still due. May 3 May 18 Aug 3 Requirement Record these transactions in the general journal. Explanations aren't required.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![E14-4 Issuing shares payable by instalments [10–15 min]
Riverside Ltd is issuing shares payable by instalments. It completed the following transactions:
Received an application for 2000 ordinary shares with a total issue price of $10 per
share. The applicant paid one-quarter of the total issue price.
Allotted the 2000 shares and collected a further half of the total issue price.
Made a call on the shares and collected the balance still due.
May 3
May 18
Aug 3
Requirement
Record these transactions in the general journal. Explanations aren't required.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9d6686f0-24e3-43de-bc21-a827730605bb%2Ffe966678-da2c-4643-9111-d68be1de07c9%2Fodfhln_processed.png&w=3840&q=75)
Transcribed Image Text:E14-4 Issuing shares payable by instalments [10–15 min]
Riverside Ltd is issuing shares payable by instalments. It completed the following transactions:
Received an application for 2000 ordinary shares with a total issue price of $10 per
share. The applicant paid one-quarter of the total issue price.
Allotted the 2000 shares and collected a further half of the total issue price.
Made a call on the shares and collected the balance still due.
May 3
May 18
Aug 3
Requirement
Record these transactions in the general journal. Explanations aren't required.
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