Issue of shares Journal entries for issues of shares by installment Procedures Share applications received On allotment Receive money on allotment stage Refund to those unsuccessful applicants On Call Journal Entries DR Cash CR Application and Allotment - Ordinary Shares DR Application and Allotment – Ordinary Shares CR Share Capital DR Cash CR Application and Allotment - Ordinary Shares DR Application and Allotment - Ordinary Shares CR Cash DR Call Account CR Share Capital Call money received DR Cash CR Call Account

When shares are issued fully payable on application, the journal entries to record the issue and allotment (assuming the minimum subscription is reached) are: Select one:   a. Dr Cash Trust Cr Application Dr Cash Cr Cash trust   b. Dr Cash Cr Application Dr Application Cr Share Capital   c. Dr Cash Trust Cr Application Dr Application Cr Share capital Dr Cash Cr Cash Trust   d. Dr Cash Cr Allotment Dr Allotment Cr Share capital

Record the issuance of shares when sold for cash and for noncash consideration

Which of the following information from the minutes of meetings would most likely affect the retained earnings account? Group of answer choices Declaration of a share-split Treasury shares acquisition Payment of an outstanding cash dividend Conversion of preference shares to ordinary shares

How would the share dividends distributable account balance be presented on the statement of financial position? *       a. as part of current liabilities       b. as addition to share capital       c. as addition to retained earnings       d. as addition to additional paid in capital

Shares of open end investment companies are bought and sold  A) from/to the investment company B) on an exchange C) at the previous day's NAV

Dividends in arrears on preference shares are reported in the financial statements as a (an) a. liabilityb. reduction from Retained Earningsc. reduction from Retained Earningsd. expense

Which of the following would NOT be reported for capital stock in the contributed capital section of a classified balance sheet? Group of answer choices A.Dividends per share B.Shares issued C,Shares outstanding D.Shares authorized

Shares of closed end investment comapnies are traded A) by the investment company B) on an exchange C) at the previous day's NAV

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