What is the entry to record issuance of shares after all cash have been received from a share subscription, assuming an entry to record ordinary shares authorized was made at the time of incorporation? * a. Dr. Subscribed ordinary shares and Cr. Ordinary shares b. Dr. Subscribed ordinary shares and Cr. Ordinary shares as well as Share premium c. Dr. Subscribed ordinary shares and Cr. Unissued ordinary shares d. Dr. Subscriptions receivable and Cr. Subscribed ordinary shares as well as Share premium
What is the entry to record issuance of shares after all cash have been received from a share subscription, assuming an entry to record ordinary shares authorized was made at the time of incorporation? * a. Dr. Subscribed ordinary shares and Cr. Ordinary shares b. Dr. Subscribed ordinary shares and Cr. Ordinary shares as well as Share premium c. Dr. Subscribed ordinary shares and Cr. Unissued ordinary shares d. Dr. Subscriptions receivable and Cr. Subscribed ordinary shares as well as Share premium
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the entry to record issuance of shares after all cash have been received from a share subscription, assuming an entry to record ordinary shares authorized was made at the time of incorporation? *
a. Dr. Subscribed ordinary shares and Cr. Ordinary shares
b. Dr. Subscribed ordinary shares and Cr. Ordinary shares as well as Share premium
c. Dr. Subscribed ordinary shares and Cr. Unissued ordinary shares
d. Dr. Subscriptions receivable and Cr. Subscribed ordinary shares as well as Share premium
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