120,000 recorded in the Cash Book upon issuing 100,000 ordinary shares of 1 each should be credited...

Question:

£120,000 recorded in the Cash Book upon issuing 100,000 ordinary shares of £1 each should be credited to which account or accounts?
(a) To a Suspense account
(b) To the Share capital account
(c) £100,000 to the Share capital account and £20,000 to the Share premium account
(d) To the Share premium account

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

Question Posted: