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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The equity of Duffy Ltd at 1.12.2022 was as follows: Share capital Share premium Revaluation reserve Retained profits 100,000 shares of 10p each £ 10,000 30,000 40,000 90.000 170.000 On 10.12.2022, the company made a bonus issue. 10 shares were issued for in such a way as to maximise the retained profits. The double entry reflecting this share issue is which of the following:
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Before Riverbed Ltd. engages in the treasury share transactions listed below, its general ledger reflects, among others, the following account balances (par value is £30 per share). Share Premium-Ordinary Share Capital-Ordinary £91,700 £269,400 Retained Earnings (a) Bought 390 treasury shares at £39 per share. (b) Bought 300 treasury shares at £45 per share. (c) Sold 350 treasury shares at £41 per share. (d) Sold 100 treasury shares at £37 per share. £81,900 Record the treasury share transactions (given below) under the cost method of handling treasury shares; use the FIFO method for purchase-sale purposes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Nizwa Co. issues 2,000 ordinary shares with a RO 10 par value at RO 16 per share. What should be recorded for this transaction.
Refer to the following The stockhokiers equity secton of Peter CorDOBIDNS MA ce sheet at December 31 20OX2 was as Hollows Ordinary shares(P10 par vae ckessc0.n. shares, Issued adoulstandnj 9000rac Share premium Relained eamngs On January 2. 20x3 Peler puchased ard aler relirement of tese 100OC0 ccounts shoud se Share pren . Ro d 900,000 P1300,000 P1,900,000 P1300,000 000008 d 000'007 P1,400,000 P 800 000
Star Ltd. presents the following information from the Statement of Financial Position: Equity £ Capital (120, 000 shares of £1 120,000 each) Retained Profits Share premium Total Equity 22,000 50,000 192,000 Star Ltd. issues 20, 000 ordinary shares for a price of £2. Considering the previous information and the economic transaction of issuing ordinary shares, which of the following statements is correct? O a. The company increases cash in £20,000 and share premium decreases in the same amount. O b. The company decreases cash in £40,000 and total equity remains unchanged. O c. The company increases cash in £40,000 and equity increases in the same amount. O d. None of the answers is true.

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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