CIE Accounting Paper-1: Specimen Questions 138 - 139 of 214
Question number: 138
Write in Short
Complete the amount and quantity of the following Ordinary Share Capital:
25, 000 Ordinary Shares at $2 $ ________
50, 000 Ordinary Shares at $3 $ ________
________ Ordinary Shares at $5 $300, 000
$50, 000, $150000, 60000
The Company holds 25, 000 numbers of Ordinary Shares with a cost of $2 for each share. Therefore,
Number of share
Question number: 139
Shalini sublets part of her premises to Renu.
A cheque for rent has been paid by Renu.
How will Renu record this in her ledger?
Rent is being expenses for the Renu. Hence debit all expenses and credit all income to the business. The rent paid is debited and bank is credited in the book of Renu. The same transaction is income for the Sahlini.