On 1 January Y Company Pty Ltd Issued 100 000

question 16

Multiple Choice

On 1 January Y Company Pty Ltd issued 100 000 shares for $2 each. Which of the following is the correct entry to record this transaction?

• A) Debit bank $200 000; credit shareholder's equity $200 000
• B) Debit bank $200 000; credit share capital $200 000
• C) Debit bank $100 000; credit share capital $100 000
• D) Debit shareholder's equity $200 000; credit bank $200 000