Flag Ltd Has Received Applications for 4 Million Shares During

question 11

Multiple Choice

Flag Ltd has received applications for 4 million shares during July 2014.The shares are to be issued at a price of $2.75 per share.The 4 million shares are allotted on 15 August 2014.What are the accounting entries required to record these events?

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Definitions:

Significant Difference

A statistical term indicating that the observed difference between two or more datasets is unlikely to be due to chance at a certain confidence level.

Tukey's Multiple Comparison

A statistical test used to find the differences between means in a set of data, part of post-hoc analysis following ANOVA.

Fisher's LSD

A statistical method used for post-hoc analysis in ANOVA for making pairwise comparisons between group means while controlling Type I error.

Pairwise Population Means

Comparisons made between the means of all possible pairs in a set of population groups to find differences.