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The journal entry for a compay that issues 10,000 ordinary shares (nominal value of 1 $ each) for cash consideration of $2.50 each.

Issue costs are1000 $?

 

 

(a) Dr. Cash25,000 $

Cr. Equity share capital25,000 $

(b) Dr. Cash24,000 $   

Cr. Equity share capital10,000 $

Cr. Share premium14,000 $

(c) Dr. Cash25,000 $

Cr. Equity share capital10.000 $

Cr. Share premium15,000 $.

 

 

 

 

 

 

 

 

 

 

 

 

Accounting
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Question added by Almutaz Bakry Sidahmed , Internal Audit Manager , Banan real estate
Date Posted: 2015/03/11
Upvote (2) Views (4) Followers (5) Answers (3) Report Question
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Syed Ali Zeeshan ACCA
by Syed Ali Zeeshan ACCA , Assistant Manager Accounts - Receivable , Maxim International (Pvt.) Limited

The Correct and my Answer is :

(c) Dr. Cash25,000 $

Cr. Equity share capital10.000 $

Cr. Share premium15,000 $.

Umer Sharif
by Umer Sharif , Consultant Lead Financial, Functional, Implementation of Infor ERP Syteline ‚ Eccountant & SmartHCM. , Bin Rasheed Technology Pvt Ltd.

answer c is right..,............

Ramadhani Msuya
by Ramadhani Msuya , accountant and Tax consultant , Ndamallya &Co Associates

debit Cash/bank credit share capital

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