Which of the Following Statements Correctly Describes This Journal Entry

question 7

Multiple Choice

Which of the following statements correctly describes this journal entry: $$\begin{array} { | l | l | r | r | } \hline \mathrm { Dr } & \text { Cash at bank } & 160000 & \\\hline \mathrm { Dr } & \text { Forfeited shares account } & 40000 & \\\hline \mathrm { Cr } & \text { Share capital } & & 200000 \\\hline \mathrm { Dr } & \text { Forfeited shares account } & 2500 & \\\hline \mathrm { Cr } & \text { Cash at bank } & & 2500 \\\hline\end{array}$$

• A) The entry is for an entity not listed on the Australian Stock exchange and shows the buy back of shares as a result of a resolution of the Board.
• B) The entry is for an entity listed on the Australian Stock exchange and shows the buy back of shares as a result of a resolution of the Board.
• C) The entry is for an entity not listed on the Australian Stock exchange and shows the forfeiture of shares as a result of a failure by some shareholders to meet a call on the shares.
• D) The entry is for an entity listed on the Australian Stock exchange and shows the forfeiture of shares as a result of a failure by some shareholders to meet a call on the shares.

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Definitions:

Skewed

Describes data that are not symmetrically distributed around the mean, often indicating a bias or anomaly in the data collection or population.

Knowledge Bases

A centralized repository of information or a database where knowledge, facts, and data are stored.

Isolated Investigations

Research studies conducted independently or in segregation, without connection to broader studies or works.

Mixed Methods Designs

Mixed methods designs combine both qualitative and quantitative research approaches in a single study to provide a more comprehensive understanding of the research question.