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Overnight Bamboo plc - Answers

Overnight Bamboo (1473) plc was formed with an authorised share capital of 142337 ordinary shares of £1 each. These shares were offered to the public on the following terms:

Total Ordinary Shares of £1 issued142337 
 
 SharesPremium
On application: 25p0.25 
On application: 40p premium 0.40
On allotment: 25p per share0.25 
First and final call: the balance of 50p per share0.50 

The following events then unfolded:

Total applications received193438
Applications rejected20932
Applications refunded30169

In respect of the applications rejected, the directors allotted shares to the remaining applicants pro rata to their applications.

The accounting entries to record the issue of the shares by Overnight Bamboo (1473) plc can be seen below.

Overnight Bamboo (1473) plc

Bank a/c Numberper share 
Application and Allotment a/capplication1909230.2547731 
Application and Allotment a/capplication premium1909230.2140094 
Application and Allotment a/callotment1322990.2533075 
First and Final Call a/ccall1322990.5066150 
Application and Allotment a/callotment rejected: shares and premium231820.46 10664
Application and Allotment a/callotment refund: shares and premium354420.46 16303
Balance c/d 160082
 187049187049
 
Ordinary Share Capital a/c DrCr
Application and Allotment a/capplication 33075
Application and Allotment a/callotment 33075
First and Final Callcall 66150
Balance c/d 132299 
 132299132299
 
Share Premium a/c 
Application and Allotment a/c 1322990.21 27783
 
Application and Allotment a/c 
Ordinary Share Capital a/c 1322990.2533075 
Ordinary Share Capital a/c 1322990.2533075 
Share Premium a/c 1322990.2127783 
Bank a/callotment rejected: shares and premium231820.4610664 
Bank a/capplication1909230.25 47731
Bank a/capplication premium1909230.21 40094
Bank a/callotment1322990.25 33075
Bank a/callotment refund: shares and premium354420.4616303 
 120899120899
 
First and Final Call a/c 
Ordinary Share Capital a/c 66150 
Bank a/c 66150
 6615066150