The correct ledger entries to record the issue of 400,000 1 equity shares at a premium of
Fantastic news! We've Found the answer you've been seeking!
Question:
The correct ledger entries to record the issue of 400,000 £1 equity shares at a premium of 20p, and paid for by cheque, in full, is:
| Dr. Bank account | £400,000 | |
| Dr. Share premium account | £80,000 | |
| Cr. Share capital account | £480,000 |
| Dr. Bank account | £480,000 | |
| Cr. Share capital account | £400,000 | |
| Cr. Share premium account | £80,000 |
| Dr Share capital account | £400,000 | |
| D. Share premium account | £80,000 | |
| Cr. Bank account | £480,000 |
| Dr. Share capital account | £400,000 | |
| Cr. Share premium account | £80,000 | |
| Cr. Bank account | £320,000 |
Expert Answer:
The detailed answer for the above question is provided below The correct ledger entries to record th... View the full answer
Related Book For 
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
Posted Date:
