Quelpr
5 marksLimited Liability Companies

CSEC Principles of Accounts · January 2018 · Paper 2 · Question 4(a)

Green Land Ltd authorized share capital: 1 000 000 ordinary shares @ 1 each (1 000 000); 500 000 5% preference shares @ 2 each (1 000 000). On 1 January 2017, the company issued 200 000 ordinary shares at 1.50 each, and 100 000 in 2% debentures. All were fully subscribed.

Prepare journal entries to record the issue of the shares and debentures on 1 January 2017. (Narratives are not required.)

The mark scheme is shown once you've answered.

Practise this question

Other parts of this question

  1. 4(b)Prepare a statement to show the appropriation of profits for the six months ending 30 June 2017.[9 marks]
  2. 4(c)Prepare the capital reserve section of Green Land's Statement of Financial Position (Balance Sheet) as at 30 June 2017.[6 marks]

More practice: the rest of this paper · more Limited Liability Companies questions · all CSEC Principles of Accounts past papers