Evon, a limited liability company, issued 1,000,000 ordinary shares of 25c each at a price of $1·10 per share, all received in cash. What should be the accounting entries to record this issue? A Debit: Cash $1,100,000 Credit: Share capital $250,000 Share premium $850,000 B Debit: Share capital $250,000 Share premium $850,000 Credit: Cash $1,100,000 C Debit: Cash $1,100,000 Credit: Share capital $1,100,000 D Debit: Cash $1,100,000 Credit: Share capital $250,000 Retained earnings $850,000
A |