Question

only question 4 please

Trust Bank account. The directors proceeded with The directors then issued a notice to these shareholders on 30 April asking for the payment due on Allotment. This was all received by 14 May. Required: Prepare general journal entries to record the above transactions. 13. On 31 August, Fripp Ltd issued a prospectus offering 500,000 $2.00 ordinary eoshares, $1.50 payable on Application and $0.50 on Allotment When applications closed on 31 October applications had been received for ol a500,000 shares. A total of $750,000 cash was received and this was Trust Bank account. The directors proceeded with the allotment placed into the The directors then issued a notice to these shareholders on 14 November asking for the payment due on Allotment. This was all received by 7 December. Required: Prepare general journal entries to record the above transactions. 14. On 1 February, Mark Ltd issued a prospectus offering 400,000 $1.00 ordinary shares, $0.50 payable the directors have indicated that any excess application money may be kept and transferred to Allotment. Application and $0.50 on Allotment. In the prospectus on When applications closed on 1 April cash of $250,000 had been received. This was placed into the Trust Bank account. The directors proceeded with the allotment and the excess Application money was transferred to Allotment. The directors then issued a notice to the remaining 600,000 shareholders 30 April asking for the payment due on Allotment. This was all received by 31 May. Required: Prepare general journal entries to record the above transactions. on 15. On 1 August, Janine Ltd issued a prospectus offering 800,000 $2.00 ordinary shares, $1.50 payable on Application and $0.50 on Allotment. In the prospectus the directors have indicated that any excess application money may be kept and transferred to Allotment. C When applications closed on 30 September, applications for 800,000 shares had ($2.00) These payments were placed into the Trust Bank account. The directors proceeded Application money was transferred to Allotment. been received, including 200,000 applicants who paid the full amount with the allotment and the еxcess

Answer 1

Answer 14

Date	Particulars	Debit	Credit
01-Apr	Bank A/c	$      250,000
	To Share Application A/c		$      250,000
	(Being Amount Received)
01-Apr	Share Application A/c	$      250,000
	To Share Capital A/c		$      200,000
	To Share Allotment A/c		$        50,000
	(Being Amount Transferred)
30-Apr	Share Allotment A/c	$      200,000
	To Share Capital A/c		$      200,000
	(Being Amount Due)
31-May	Bank A/c	$      150,000
	To Share Allotment A/c		$      150,000
	(Being Amount Received)

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