A companys statement of financial position appears as follows: Required: (a) If 19,200 of the ordinary shares
Question:
A company’s statement of financial position appears as follows:
Required:
(a) If £19,200 of the ordinary shares were purchased at par, there being no new issue of shares for the purpose, show the journal entries to record the transactions and the amended statement of financial position.
(b) If, instead of (a), £19,200 ordinary shares were purchased at a premium of 80%, there being no new issue of shares for the purpose, show the journal entries to record the transactions and the amended statement of financial position.
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a Journal Entries and Amended Statement of Financial Position Journal Entries To record the purchase of ordinary shares at par Debit Ordinary Share Ca...View the full answer
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Related Book For 
Frank Woods Business Accounting Volume 2
ISBN: 9781292085050
13th Edition
Authors: Frank Wood, Alan Sangster
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