User Account

All Pages

Calculate the amount of application money

Assignment Help Accounting Basics
Reference no: EM132533875

Question - Adelaide Briton Ltd was registered on the first of July 2020. The company's directors issue a disclosure document inviting applicants for 2 000 000 ordinary shares for an issue price of $1. The share is payable 60c on application and 20c on allotment. Adelaide Briton Ltd reserves the right to allot to individual applicants on a pro rata base, a lesser number of shares than the number applied for, and may apply excess application monies to the allotment and to calls in advance. The company's director must allot exactly 2 000 000 shares.

First Scenario: Applications for 2 200 000 shares are received with the correct application money.

Second Scenario: Applications for 2 750 000 shares are received with the correct application money.

Required: For each of the above scenarios:

1. Calculate the amount of application money that would be applied to application and calls (including allotment).

2. Prepare journal entries.

Reference no: EM132533875

Questions Cloud

Find what steps should be taken to fix the problem : Since this is the first time you have ever done this, is this a problem? If so, what steps should be taken to fix this problem? If not, why not?
President of innovation and design : The vice president of Innovation and Design has resigned and there are no plans to replace him or the position. As a temporary step, the president
How june the company must required balance : How To maintain the $10,000 required balance, during June the company must?As of May 31, the company owes $15,000 to the bank.
Identify a corresponding state standard from your state : Select a secondary grade level and content area. Identify a corresponding state standard from your state and create a lesson plan using the "COE Lesson Plan.
Calculate the amount of application money : Adelaide Briton Ltd was registered on the first of July 2020. Calculate the amount of application money that would be applied to application and calls
Developing top talent from within organization : Discuss best practices for hiring top talent and the process for developing top talent from within the organization.
Define the scope of health behavior and social support : Define the scope of health behavior, social support and health, stress/coping and health behavior. The response must be typed, double spaced, times new roman.
What is the dividend yield : The dividends are anticipated to maintain a 4.5 percent growth rate forever. The stock currently sells for $65 per share. What is the dividend yield
What is the budgeted cost of goods sold for october : $1,300 of ski boots in merchandise inventory at the end of October to cover part of anticipated November sales. What is budgeted cost of goods sold for October?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd