Already have an account? Get multiple benefits of using own account!
Login in your account..!
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - On 1 July 2020 Jenny Ltd issued a prospectus to the public offering 15 million shares at $2.00 each. The prospectus specified that $1.00 per share is to payable on application and a further $0.50 will be payable on allotment. The closing date for applications was 31 August 2020.
By the closing date, applications have been received for 20 million shares. To deal with the oversubscription, the directors of Jenny Ltd decided to issue shares to all subscribers on a pro rata basis. Excess money received on application will be credited against the amounts due on allotment.
All amounts due on allotment are paid by the due date of 15 September 2020.
On 30 November 2020, Jenny Ltd made the call for the outstanding balance of $0.50 per share with the amounts being payable by 31 December 2020. Holders of 5 million shares fail to pay the amount due of the call by the due date, and on 15 January 2021 the directors forfeited the shares. The forfeited shares were cancelled and reissued on 15 February 2021 as fully paid to $2.00 on payment of $1.50 per share. The reissue of the forfeited shares cost $6 000. The balance in the forfeited shares account were refunded to the forfeited shareholders by 28 February 2021.
REQUIRED - Prepare general journal entries to record the above transactions. Show all workings.
The expected economic life of the asset is ten years. The lease term is 5 years. The asset is expected to have a residual value of $2,000 at the end of ten years. Using the straight-line method, what would Best record as annual depreciation?
Robb Corporation uses the allowance method of accounting for uncollectible accounts. During 2010, Robb had charged $80,000 to bad debt Expense, and wrote off accounts receivable of $90,000 as uncollectible.
What is the maximum brokerage that can be charged by an NSE trading member for a deal in government securities for Rs. 5 crores?
given the following information compute the current and quick ratioscash 100000accounts receivable 357000inventory
assume the following information for two products hawaii fantasy and hawaii joy hawaii fantasy sales mix- 4 units
Draw the demand curve using the quantity and demand data of chicken provided in rows 3 and 4 of the Excel. Draw the supply curve using the quantity and supply.
Exercise 23-12 (WileyPlus) prepare a statement of cash flows using direct method
at october 31 nathan company made an accrued expense adjusting entry of 1400 for salaries. prepare the reversing entry
Since the healthcare industry will continue to grow in the future due to the size of the global population and its age composition, General Electric Healthcare (GEH) is trying to capitalize on these trends. It is expanding its operations and devel..
falstaff products estimates manufacturing overhead costs for the coming year at 500000. falstaff will allocate based on
on june 30 2011 vende inc. sold some used equipment for 28000. the equipment had been purchased several years ago for
For each audit procedure, identify the balance-related audit objective or objectives it partially or fully satisfies
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd