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Sources of Finance

Allotment of Shares - Answers

Task 1

DateDetailsNumberNom ValueOn Application
01/01/2004Ordinary shares offered for sale232653.52 
31/01/2004Applications received for26265 0.46
05/02/2004Allotment23265  

See below for the application and allotment account to reflect these transactions.

Application and allotment a/c

DateDetailsDrCr
01/01/2004Share Capital a/c81892.80 
31/01/2004Cash book: applicants' money12081.90 
05/02/2004Cash book: refund of oversubscriptions 1380.00
05/02/2004Balance c/d 92594.70
  93974.7093974.70

Task 2

DateDetailsNumberNom ValueOn Application
01/01/2004Ordinary shares offered for sale123844.67 
31/01/2004Applications received for15384 0.57
05/02/2004Allotment12384  

See below for the application and allotment account to reflect these transactions.

Application and allotment a/c

DateDetailsDrCr
01/01/2004Share Capital a/c57833.28 
31/01/2004Cash book: applicants' money8768.88 
05/02/2004Cash book: refund of oversubscriptions 1710.00
05/02/2004Balance c/d 64892.16
  66602.1666602.16