Use the Information Below to Answer the Following Questions

question 39

Multiple Choice

Use the information below to answer the following questions:
An issue of 50 000 shares at $3 required $2.20 per share to be paid at the time of application. On allotment, another $0.30 was due and a further $0.50 when determined by the board of directors. The application money in respect of the 50 000 shares was received on 8 July. On 26 July, the shares were issued with the amount due on allotment received on 15 August. The remaining $0.50 was called up on 20 September and received on 10 October.
-The journal entry to record the cash received on application would include:

• A) DR Cash at bank,$110 000
• B) CR Share capital,$110 000
• C) CR Application,$110 000
• D) DR Application,$110 000.

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Definitions:

Leads

In medical terms, it often refers to the wires and patches used in electrocardiography (ECG) that detect heart activity.

Electricity

A form of energy resulting from the movement of charged particles, used extensively for power, lighting, and electronic devices.

AC Interference

Interference caused by alternating current (AC) in electrical circuits, which can affect the performance of electronic devices.

Lead Wires

Lead wires are conductive cables used in the medical field to connect electrodes placed on a patient's body to an electrocardiogram machine or other monitoring devices.