Multiple Choice
Irridium Ltd had a share capital of 500 000 $1 ordinary shares fully paid.The company decided to make a new share issue of 100 000 $1 shares, payable in full on application.These shares had to be first offered to existing shareholders.Suppose that the issue was 90% subscribed by the existing shareholders by 31 January 2010, and that the other 10% of shareholders did not apply for any shares.The rights issue is non-renounceable.What would be the correct journal entry for the new issue?
A)
B)
C)
D)
Correct Answer:

Verified
Correct Answer:
Verified
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