Accounting Financial Sample Paper

aEXAMPLE - QUIZ QUESTIONS 1.Prepare journal entries to record the interest group transactions of a ordinary phoner: (3 Marks) a)1 Feb. 2009Omega Ltd do itd a course catalog inviting subscription for 500,000 ordinary shares at an issue price of $2.00 each(prenominal), payable in in force(p) on application. b)20 Feb. 2009Applications unopen and 500,000 shares were received. c) 28 Feb 2009Directors dish taboo the shares ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 2.What is a rights issue? (1 Mark) ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 3.

Prepare journal entries to record the following cerebrate transactions of a commonplace company. (3 Marks) a)The company issued 40,000 excerpts at 50 cents each to acquire shares at $5 each in this company b)The holders of 36,000 options then exercised their rights to acquire shares in the company c)For the options not exercised, the company transfers the option balance to an options reserve account. ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________...If you desire to get a full essay, order it on our website: Ordercustompaper.com

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