Question 9
In this question, candidates were required to prepare the following Ledger Accounts:
(a) Share Application Account;
(b) Allotment account;
(c) First and Final Call account;
(d) Bank account;
(e) Ordinary Share Capital account;
Observation
The candidates were required to prepare ledger accounts for the procurement of company’s capital. Few candidates attempted this question and performed averagely. However, the candidates’ difficulty from their response was from wrong narration, omission of narration and incomplete placement of zeros in the figures made candidates.