each. At the end of their first year of trading, after paying tax and dividends, the balan Delebi Ltd was formed with an authorised share capital of 500 I March 20.1 the company issued 300 000 ordinary shares at an issue price of 100 ordinary shares. the Retained income account was R200 000. On 1 March 20.2, the company decided to issue the unissued shares to the public ata issue price of 220 cents each. The application closed on 30 April 20.2 and all the sha were allotted. A receipt was issued for the monies received. Required: 1.16.1 The relevant entry in the Cash Receipts Journal on 30 April 20.2. 1.16.2 The posting to the General Ledger. 1.16.3 The effect on the Balance Sheet of the company on 30 April 20.2 (and Notes to Balance Sheet).

each. At the end of their first year of trading, after paying tax and dividends, the balan Delebi Ltd was formed with an authorised share capital of 500 I March 20.1 the company issued 300 000 ordinary shares at an issue price of 100 ordinary shares. the Retained income account was R200 000. On 1 March 20.2, the company decided to issue the unissued shares to the public ata issue price of 220 cents each. The application closed on 30 April 20.2 and all the sha were allotted. A receipt was issued for the monies received. Required: 1.16.1 The relevant entry in the Cash Receipts Journal on 30 April 20.2. 1.16.2 The posting to the General Ledger. 1.16.3 The effect on the Balance Sheet of the company on 30 April 20.2 (and Notes to Balance Sheet).

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions

Section: Chapter Questions

Problem 43P

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