Page 46 - Ebook Financial Accounting 3

Ordinary Share capital 245,000

(350,000 x RM0.70)

Bank 225,000

Application 20,000
Allotment 245,000

((350,000 x RM0.70) = RM245,000)

Money received from application (400,000 x RM0.40) RM160,000
Money for application (350,000 x RM0.40) 140,000

Surplus application 20,000
Allotment

Money due to allotment RM245,000

Money from application 20,000
Money should be paid on allotment 225,000

First call 70,000
Ordinary share capital 70,000

(First call received (350,000 x RM0.20))

Bank 74,500

First call 70,000

Call in advance (15,000 x RM0.30) 4,500
(First call money received)

Final call 105,000
Ordinary share capital 105,000

(Final call received (350,000 x RM0.30))

Bank 99,660

Call in arrears (2,800xRM0.30) 840

Call in advance 4,500
Final call 105,000

(Final call money received)

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