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Allotment of Shares - Sources of Finance

Sources of Finance

Allotment of Shares - Answers

Task 1

Date Details Number Nom Value On Application
01/01/2004 Ordinary shares offered for sale 23265 3.52  
31/01/2004 Applications received for 26265   0.46
05/02/2004 Allotment 23265    

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

Application and allotment a/c

Date Details Dr Cr
01/01/2004 Share Capital a/c 81892.80  
31/01/2004 Cash book: applicants' money 12081.90  
05/02/2004 Cash book: refund of oversubscriptions   1380.00
05/02/2004 Balance c/d   92594.70
    93974.70 93974.70

Task 2

Date Details Number Nom Value On Application
01/01/2004 Ordinary shares offered for sale 12384 4.67  
31/01/2004 Applications received for 15384   0.57
05/02/2004 Allotment 12384    

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

Application and allotment a/c

Date Details Dr Cr
01/01/2004 Share Capital a/c 57833.28  
31/01/2004 Cash book: applicants' money 8768.88  
05/02/2004 Cash book: refund of oversubscriptions   1710.00
05/02/2004 Balance c/d   64892.16
    66602.16 66602.16
Submitted by bized on Thu, 01/07/2004 - 12:00