It is talking abut equity. What is "receive money on allotment stage" what money is it? Issue of sharesJournal entries for issues of shares by installmentProceduresShare applications receivedOn allotmentReceive money on allotmentstageRefund to those unsuccessfulapplicantsOn CallJournal EntriesDR CashCR Application and Allotment - Ordinary SharesDR Application and Allotment – Ordinary SharesCR Share CapitalDR CashCR Application and Allotment - Ordinary SharesDR Application and Allotment - Ordinary SharesCR CashDR Call AccountCR Share CapitalCall moneyreceivedDR CashCR Call Account

Answer information:Step 1:The phrase "receive money on allotment stage" in the context of equity…

Answered: Issue of shares Journal entries for…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 3C

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Similar questions

Which of the following information from the minutes of meetings would most likely affect the retained earnings account? Group of answer choices Declaration of a share-split Treasury shares acquisition Payment of an outstanding cash dividend Conversion of preference shares to ordinary shares
Match each of the following terms with the correct definition: a. additional paid-in capitalb. issued and outstandingc. retained earningsd. treasury stocke. authorized share capitalf. par value Correct Definitions:A. The price at which each share is recorded in the company’s booksB. Held by investorsC. Cumulative amount of profits that have been plowed backD. The difference between the amount of cash raised by an equity issue and the par value of the issueE. The maximum number of shares that can be issued without shareholder approvalF. The amount that the company has spent buying back stock that it has not subsequently resold
This account represents that portion of the subscribed share capital which remains uncollected Choices; Subscription receivable Subscribed capital stock authorized capital stock share premium
Mandatorily redeemable preferred stock (preference shares) is reported among liabilities and their dividends are reported in the income statement as interest expense using a. U.S. GAAP. b. IFRS. c. Both U.S. GAAP and IFRS. d. Neither U.S. GAAP nor IFRS.
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
Cash dividends declared but not paid as of the statement of financial position date are reported as a. current liabilityb. deduction from Cashc. addition to Share Capitald. addition to Additional Paid-in Capital
Which of the following statements is true in relation to the call price of preference shares? The call price is used in computing book value per share. In the absence of call price, the liquidation value is disregarded and the par or stated value is instead used. The call price is the amount paid to preference shareholders upon redemption of preference shares during the lifetime of the entity. All of these statements are true.
Which of the following may qualify as cash equivalents? O Investment in preference shares acquired within a short period of their maturity and with a specified redemption date O None of these O Investment in share options O Investment in ordinary shares
When shares are issued fully payable on application, the journal entries to record the issue and allotment (assuming the minimum subscription is reached) are: Select one: a. Dr Cash Trust Cr Application Dr Cash Cr Cash trust b. Dr Cash Cr Application Dr Application Cr Share Capital c. Dr Cash Trust Cr Application Dr Application Cr Share capital Dr Cash Cr Cash Trust d. Dr Cash Cr Allotment Dr Allotment Cr Share capital
Shares of open end investment companies are bought and sold A) from/to the investment company B) on an exchange C) at the previous day's NAV
Discuss the accounting treatment, if any, that should be given to each of the following items in computing earnings per share of ordinary shares for financial statement reporting. d. the declaration of current dividends on cumulative preference shares. e. the acquisition of some of the corporation's outstanding ordinary shares during the current fiscal year. the shares were classified as treasury shares. f. a 2-for-1 share split of ordinary shres during the current fiscal year. g. a provision created out of retained earnings for a contingent liability from a possible lawsuit.
Record the issuance of shares when sold for cash and for noncash consideration

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