A company advertised and issued 750,000, 12% preference s...
Use the information below to answer this question
A company advertised and issued 750,000, 12% preference shares of N1 each to be issued ₦1.50 per share. Applications for 1,370,000 were received at 30k per share. 70k per share (including premium) was due on allotment while 25k per share was due on each of the remaining two calls. All amounts due were received. Application money for 120,000 shares was refunded to unsuccessful applicants and the remaining applicants were allotted shares on prorata basis.
The second final call account was debited with
Ordinary share capital account ₦187,500
12% preference share capital account ₦187,500
12% preference share capital ₦375,000
Bank account ₦187,500
Correct answer is B
No explanation has been provided for this answer.
When stock is withdrawn for personal use, the accounting entries is to debit ...
The claim on the assets of a business by outsiders is ...
Given: If Emeka Enterprises settles its suppliers for goods purchased within 7 days, it can earn ...
In a professional partnership, membership must be between ...
How are credit sales by a department treated? ...
The excess of current assets over current liabilities is ...
Which of the following is a storage device? ...
A credit note from a supplier for damaged goods would first be entered in the ...