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Corporate > SHARE ISSUES > Flashcards

SHARE ISSUES Flashcards

(4 cards)

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1
Q

What is the double entry for a bonus share issue

A

Dr Share Premium
CR Share Capital

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2
Q

What is the double entry for a rights share issue

A

Dr Cash
Cr Share Capital
Cr Share Premium

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3
Q

What is the double entry for an increase in provision

A

Dr P/L Expense
Cr Provisions (SOFP)

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4
Q

What are the 3 conditions that must be met when recognising a provision

A
  • Entity has a present obligation as a result of a past event
  • Probable outflow of economic resources
  • Reliable estimate can be made
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Corporate (6 decks)

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