"On January 1, 2020, ABC Company was established as an Industrial public shareholding company. ABC Company authorizes 7,000,000 shares of common stock. A par value of JD 1 per share. The founders subscribed 4 million shares cash in the company's current account with the bank. ABC offered the remaining shares to public for subscription. In 28/2/2020, the number of subscribed shares is 2,000,000 shares at the end date of subscription. In 12/3/2020, the subscription shares were allotted the offered shares. The credit side entry is made by the company in 12/3/2020 is" "Share Capital 7,000,000" "Subscribers to Shares Public 2,000,000" "Share Capital 6,000,000" "Subscribers to Shares Founders 4,000,000"

"On January 1, 2020, ABC Company was established as an Industrial public shareholding company. ABC Company authorizes 7,000,000 shares of common stock. A par value of JD 1 per share. The founders subscribed 4 million shares cash in the company's current account with the bank. ABC offered the remaining shares to public for subscription. In 28/2/2020, the number of subscribed shares is 2,000,000 shares at the end date of subscription. In 12/3/2020, the subscription shares were allotted the offered shares. The credit side entry is made by the company in 12/3/2020 is" "Share Capital 7,000,000" "Subscribers to Shares Public 2,000,000" "Share Capital 6,000,000" "Subscribers to Shares Founders 4,000,000"

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

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...

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