Enter the following balances in the partially completed General Journal of Dolman Ltd: 1 January 2017 Bank €19,000 Creditors €61,000 Calculate the Ordinary Share Capital: Dolman Ltd – General Journal Date Details F Dr Cr € € Premises GL1 555,900 Bank CB1 19,000 Creditors CL1 61,000 Ordinary Share Capital GL2 Assets, Liabilities and Share Capital of Dolman Ltd on this date. - Junior Cycle Business Studies - Question 11 - 2017

To calculate the Ordinary Share Capital, we need to ensure that the total debits equal the total credits:

The total of the debits is:

• Premises: €555,900
• Bank: €19,000

Total Debits = €555,900 + €19,000 = €574,900.

The total of the credits currently is €61,000 from the creditors. To find the Ordinary Share Capital, we set up the equation:

Total Debits = Total Credits $ext{Total Credits} = ext{Creditors} + ext{Ordinary Share Capital}$

Let the Ordinary Share Capital be represented as X: $574,900 = 61,000 + X$

Solving for X: $X = 574,900 - 61,000$ $X = 513,900$

Thus, the value for the Ordinary Share Capital is €513,900.