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What the journal entry that would be recorded is

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Problem 1: Moonshine Company issued 30 000 share options to subscribe for ordinary shares. The exercise price on the options was $2 per share. If all options were exercised on the due date, the journal entry that would be recorded is:

Select one:

a. Cash Dr 60 000

Share capital - ordinary Cr 60 000

b. Share capital - ordinary Dr 60 000

Cash Cr 60 000

c. Share options - ordinary Dr 60 000

Share capital - ordinary Cr 60 000

d. Share options reserve Dr 60 000

Cash Cr 60 000

Problem 2: he Australian financial news quoted US$1.00 equals A$0.7836/0.8105. What does this represent?

Select one:

a. A bid rate of A$0.8105

b. A bid-ask spread of A$0.0269

c. The direct form of quotation

d. An offer rate of A$0.7836

Reference no: EM132784291

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