Prepare ledger accounts to record transactions

Assignment Help Accounting Basics
Reference no: EM132082046

Question - Oversubscription on share issue, payable in full on application

Maple Ltd was registered on 1 March 2017. Directors decided to issue 500 000 ordinary shares on 31 March 2017, payable in full on application at an issue price of $2.The company received applications for 560 000 shares, sent letters of regret to applicants for 10 000 shares and the remaining applicants received partial allotments by issue of 10 shares for every 11 shares applied for, making the total allotment 500 000 shares. Legal costs of issuing the shares, $12 000, were paid.

Required - Prepare journal entries and ledger accounts to record the above transactions.

Reference no: EM132082046

Questions Cloud

Discuss the technological changes that have been made : Discuss the technological changes that have been made since 2017 and how those changes have affected humanity, and how those changes have affected themselves.
Explain the two steps leaders must fulfill to be effective : Explain the two steps leaders must fulfill to be effective. Apply these steps to a current situation in which you are a follower.
Syndrome a lower heat output than non-sufferer : Persons having Reynaud's syndrome are apt to suffer a sudden impairment of blood circulation in fingers and toes.
How you got to the final figures that make up the budget : The grant budget portrays your request in numbers and encompasses the whole of all costs - for merchandise and services extending from hardware and materials.
Prepare ledger accounts to record transactions : Question - Oversubscription on share issue, payable in full on application, Required - Prepare journal entries and ledger accounts to record above transactions
How illusion is central to one or more of the stories : Present a psychological profile of a character in one of the works listed above. Or compare and contrast the psychological profiles of two characters.
Prepare the entry to record the exchange of assets by mercy : Mercy Co. exchanged old trucks plus cash of $15,500 for new trucks. Prepare the entry to record the exchange of assets by Mercy Co
What is the missing value for the standard error : 1. What is the missing value for the standard error? 2. Is this a two-sided or one-sided test? 3. If a=0.05, what are your conclusions?
The relationship between leadership and ethical standards : What is the relationship between leadership and ethical standards? How does advancements in technology complicate or simplify this relationship?

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd