Holly Ltd Decide to Issue 100 000 Ordinary Shares at $2

question 18

Multiple Choice

Holly Ltd decide to issue 100 000 ordinary shares at $2 each and require applicants to pay 50 cents for each share applied for on application.Applications are received for 120 000 shares.The journal entry to record the receipt of the application money is:

• A)Bank trust 200 000 Application 200 000
• B)Bank trust 60 000 Application 60 000
• C)Application 60 000 Bank trust 60 000
• D)Bank trust 50 000 Application 50 000

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Definitions:

Delinquent

Refers to a minor who engages in behavior that is illegal or not approved by societal standards, often resulting in legal intervention.

Peer Relationships

Interactions and bonds between individuals of similar age, which play a crucial role in socialization and personal development.

Acceptance

Acceptance is the psychological process of recognizing and acknowledging reality as it is, often involving coming to terms with aspects of life or situations that are beyond one's control.

Rejection

Rejection involves the dismissing or refusing of a proposal, idea, or individual, often leading to feelings of exclusion or inadequacy in the rejected party.