Prepare journal entries to record the issue of shares

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Reference no: EM132833640

Questions -

1. On 30 April, Tamworth Ltd issued 40 000 shares for $6 each, payable $2 on application, $2 on allotment and the remainder due by two equal calls on 30 June and 31 August. Prepare journal entries (in general journal format) to record the share issue.

Q2. The directors of Dunedoo Ltd decided to issue 100 000 ordinary shares. Prepare journal entries (in general journal form) to record the issue of shares to the public at $18 per share payable in full.

Reference no: EM132833640

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