ABC Ltd have issued 220,000 ordinary shares at a price of £1.40 each. The shares have anominal value of 95 pence each.What is the journal to enter this share issue into the accounting records?7Select one:A.DR Bank £30,800,000/ CR Share capital £20,900,000/ CR Share premium £990,000B.DR Share capital £308,000/ CR Share premium £308,000C.DR Bank £308,000/ CR Share capital £209,000/ CR Share premium £99,000D.DR Bank £308,000/ CR Share capital £308,000

Journal Entry -Business transactions are entered into your financial books through the procedure of…

Answered: td have issued 220,000 ordinary shares…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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td have issued 220,000 ordinary shares at a price of £1.40 e hal value of 95 pence each. is the journal to enter this share issue into the accounting re ct one: ank £30,800,000/ CR Share capital £20,900,000/ CR Share hare capital £308,000/ CR Share premium £308,000