User Account

All Pages

Pass the necessary journal entries

Assignment Help Accounting Basics
Reference no: EM132964490

Question - Sunshine Company limited was newly formed with an authorized capital of Rs 500000 divided into 50000 equity shares of Rs 10 each. The company issued 25000 equity shares at a premium of Rs 1 per share. Applications for 30000 shares were received. No allotment was made to applicants for 5000 shares and their application money was refunded. All the allots paid money due.

Pass the necessary journal entries. Show how the items will appear in the company's balance sheet.

Reference no: EM132964490

Questions Cloud

Compute how much will have in four years : Suppose the annual interest is 7.1 percent, but compounded monthly. If you saved every penny of your allowance every month, how much will you have in four years
What are the dividend yield and percentage capital gain : Now suppose the year-end stock price after the dividend is paid is $51. What are the dividend yield and percentage capital gain in this case
Find what annual rate of return did earn on the account : Suppose you need $35,967 in 18 years. How much do you need to deposit today if the annual interest rate = 1.4%, but compounded monthly?
How much do Diamond Jubilee patrons have to wager : How much do Diamond Jubilee patrons have to wager in a month for the casino to earn an after-tax and after-bonus profit of $28,500
Pass the necessary journal entries : All the allots paid money due. Pass the necessary journal entries. Show how the items will appear in the company's balance sheet
Calculate value of a bond that will mature in eight years : Calculate the value of a bond that will mature in 8 years' time and has a $1000 face value. The coupon interest rate is 9%p.a. paid annually
Calculate the net income for such expension project : Additional sales revenues in first full year of operations for new store (2021) $5,000. Calculate the Net income for such expension project
What will net tax to pay or refund be : What will her net tax to pay or refund be when her assessment issue? During the year 30 june 2020 agnes a resident taxpayer received salary and wages income
What price should the shares sell for at the end of year two : Polycorp has just paid a dividend of $2. At what price should the shares sell for at the end of year two if the required rate of return is 0.17?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Purpose of methods and steps of acquisition

Purpose of methods and steps of acquisition of one organization by another organization - business combination at acquisition date considering the assets

  How much must Stacy invest today

Stacy Monroe wants to a fund today that will enable her to withdraw $31,300 per year, If the fund earns 11% interest, how much must Stacy invest today

  Prepare an adjusted trial balance

Prepare an adjusted trial balance from the following adjusted account balances - Accounts Payable $6,100 and Accounts Receivable 13,200

  Calculate the overhead cost

Assume that Rocket is using a volume-based costing system, Calculate the overhead cost that would be assigned to the Standard product line

  Prepare the general journal entry for the january

The issue price was $7.50 per share. Use this information to prepare the General Journal entry (without explanation) for the January 2 entry

  Give the general journal entry to record employee payroll

For the weekly pay period ending on August 31: Give the general journal entry to record the employee payroll. Give the general journal entries to record

  Calculate the equivalent units of materials

Ending Inventory: 31,000 units, 100% complete as to materials and 30% complete as to conversion. Calculate the equivalent units of materials

  Which is the better investment common stock with a par value

Which is the better investment-common stock with a par value of $5 per share or common stock with a par value of $20 per share?

  Pattern forms the basis for the static budget

Stellar Packaging Products is experiencing an increase in demand for the month of August as a result of Estrella Coffee's comeback in its retail outlets. The following fact pattern forms the basis for the static budget:

  What effect does the property tax apportionment

What effect does the property tax apportionment have on Kate's adjusted basis in the property? Kate's adjusted basis for the property

  Calculate the equivalent units of production for the year

A company uses a process cost accounting system and the weighted-average method. Calculate the equivalent units of production for the year

  Identify important controls and related sales transaction

Identify the important controls and related sales transaction-related audit objectives. List the procedures that a CPA will use in an audit of sales transaction

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