Orange plc issued 100,000 ordinary shares of 50p each, at 60p each, fully called up and paid
Question:
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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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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