Sources of Finance
Overnight Bamboo plc - Printable Worksheet
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 issued | 142337 | |
| Shares | Premium | |
|---|---|---|
| On application: 25p | 0.25 | |
| On application: 40p premium | 0.40 | |
| On allotment: 25p per share | 0.25 | |
| First and final call: the balance of 50p per share | 0.50 | |
The following events then unfolded:
| Total applications received | 193438 |
| Applications rejected | 20932 |
| Applications refunded | 30169 |
In respect of the applications rejected, the directors allotted shares to the remaining applicants pro rata to their applications.
Required:
Print this page out and prepare the accounting entries to record the issue of the shares by Overnight Bamboo (1473) plc.
Overnight Bamboo (1473) plc
| Bank a/c | Number | per share | |||
| Application and Allotment a/c | application | ||||
| Application and Allotment a/c | application premium | ||||
| Application and Allotment a/c | allotment | ||||
| First and Final Call a/c | call | ||||
| Application and Allotment a/c | allotment rejected: shares and premium | ||||
| Application and Allotment a/c | allotment refund: shares and premium | ||||
| Balance c/d | |||||
| Ordinary Share Capital a/c | Dr | Cr | |||
|---|---|---|---|---|---|
| Application and Allotment a/c | application | ||||
| Application and Allotment a/c | allotment | ||||
| First and Final Call | call | ||||
| Balance c/d | |||||
| Share Premium a/c | |||||
| Application and Allotment a/c | |||||
| Application and Allotment a/c | |||||
| Ordinary Share Capital a/c | |||||
| Ordinary Share Capital a/c | |||||
| Share Premium a/c | |||||
| Bank a/c | allotment rejected: shares and premium | ||||
| Bank a/c | application | ||||
| Bank a/c | application premium | ||||
| Bank a/c | allotment | ||||
| Bank a/c | allotment refund: shares and premium | ||||
| First and Final Call a/c | |||||
| Ordinary Share Capital a/c | |||||
| Bank a/c | |||||