tion Receivable 250,000 Subscribed Share Capital 250,000 Cash 250,000 Share Capital 250,000 Subscription Receivable 250,000 Share Capital 250,000 None, since the transaction will be recorded through memorandum entry only.
tion Receivable 250,000 Subscribed Share Capital 250,000 Cash 250,000 Share Capital 250,000 Subscription Receivable 250,000 Share Capital 250,000 None, since the transaction will be recorded through memorandum entry only.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Under the memorandum entry method of accounting for share capital transactions, how would TINY journalize the transaction on February 3, 2020?
Group of answer choices
Subscription Receivable 250,000
Subscribed Share Capital 250,000
Cash 250,000
Share Capital 250,000
Subscription Receivable 250,000
Share Capital 250,000
None, since the transaction will be recorded through memorandum entry only.
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