When shares are oversubscribed and money returned to unsuccessful applicants, the entry to record such...
FINANCIAL
JAMB 2012
When shares are oversubscribed and money returned to unsuccessful applicants, the entry to record such money is to debit
- A. application and allotment account and credit unsubscribed shares
- B. application and allotment account and credit cash
- C. oversubscribed shares and credit allotment account
- D. oversubscribed shares and credit allotment account
Correct Answer: B. application and allotment account and credit cash
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *