North Point Ltd was incorporated on 1 June 2015 and five (5) subscribers undertook to...
80.2K
Verified Solution
Link Copied!
Question
Accounting
North Point Ltd was incorporated on 1 June 2015 and five (5) subscribers undertook to purchase 10,000 $1 ordinary shares each in the company and paid for the shares on 1 June 2015. The directors made a call of 50 cent for ordinary shares on 1 October 2015 and all call money was received except 10,000 shares
Record the 1 October 2015 transaction in the appropriate journals.
(Posting to the ledger is not required.)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
