Southern Cross Ltd issued a prospectus for the issue of 150,000, $6 shares on 1 January 2022. The prospectus specified that $4 was payable on application, with the balance payable on the allotment.   By 2 February 2022, the company received applications for a total of 170,000 shares. On 4 February 2022, Southern Cross Ltd allotted 150,000 shares. the Directors of Southern Cross Ltd decided to refund the money in relation to unsuccessful applications. All of the allotment money was received by 20 February 2022.   Required: Prepare the journal entries to account for the issue of shares by Southern Cross Ltd.

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.