Accounting Financial Sample Paper

aEXAMPLE - QUIZ QUESTIONS 1.Prepare journal entries to record the pursuit legal proceeding of a public phoner: (3 Marks) a)1 Feb. 2009Omega Ltd passingd a prospectus inviting subscription for 500,000 ordinary shares at an issue price of $2.00 for each one(prenominal), payable in full on application. b)20 Feb. 2009Applications closed and 500,000 shares were received. c) 28 Feb 2009Directors dish out the shares ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 2.What is a rights issue? (1 Mark) ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 3.

Prepare journal entries to record the following related transactions of a public beau monde. (3 Marks) a)The corporation issued 40,000 options at 50 cents each to acquire shares at $5 each in this company b)The holders of 36,000 options then exercised their rights to acquire shares in the company c)For the options not exercised, the company transfers the option balance to an options reserve account. ______________! ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________...If you want to get a full essay, order it on our website: OrderEssay.net

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