Orange plc issued 100,000 ordinary shares of 50p each, at 60p each, fully called up and paid

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Orange plc issued 100,000 ordinary shares of 50p each, at 60p each, fully called up and paid up. £3,000 was incurred as expense on the issue.

Required:
(a) Explain how the transactions stated above should be accounted for.
(b) Show how they will be reported on the Statement of financial position at the year-end.

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 28, 2023 08:51 AM

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Orange plc issued 100,000 ordinary shares of 50p each, at 60p each, fully called up and paid

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a Prime entry for the share issue i 60000 received on share issue is posted from ...View the full answer

Financial Accounting An Introduction

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