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Z Ltd allotted one million shares of 50 cents each, as 35 cents called up per share, requiring an immediate payment of 45 cents per share. Accounting entries to record the allotment are______. Select one: a. Dr Share allotment R500 000; Cr Share Capital R400 000 and Cr Share Premium R100 000 b. Dr Share allotment R450 000; Cr Share Capital R350 000 & Cr Share Premium R100 000 c. Dr Share Capital R350 000; Dr Share Premium R100 000 and Cr Cash R450 000 d. Dr Share allotment R350 000; Cr Share Capital R250 000 and Cr Share Premium R100 000

Z Ltd allotted one million shares of 50 cents each, as 35 cents called up per share, requiring an immediate payment of 45 cents per share. Accounting entries to record the allotment are______. Select one: a. Dr Share allotment R500 000; Cr Share Capital R400 000 and Cr Share Premium R100 000 b. Dr Share allotment R450 000; Cr Share Capital R350 000 & Cr Share Premium R100 000 c. Dr Share Capital R350 000; Dr Share Premium R100 000 and Cr Cash R450 000 d. Dr Share allotment R350 000; Cr Share Capital R250 000 and Cr Share Premium R100 000

FINANCIAL ACCOUNTING
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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Z Ltd allotted one million shares of 50 cents each, as 35 cents called up per share, requiring an immediate payment of 45 cents per share. Accounting entries to record the allotment are______.
Select one:
a. Dr Share allotment R500 000; Cr Share Capital R400 000 and Cr Share Premium R100 000
b. Dr Share allotment R450 000; Cr Share Capital R350 000 & Cr Share Premium R100 000
c. Dr Share Capital R350 000; Dr Share Premium R100 000 and Cr Cash R450 000
d. Dr Share allotment R350 000; Cr Share Capital R250 000 and Cr Share Premium R100 000
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