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Group Assignment 5, Due Date: 29 Sep 2019 Problem 16.8 Share issues and statement of changes in equity Gundagai Ltd was incorporated on 30 June 2016. On 1 July 2016, the company issued a prospectus offering 300 000 ordinary shares at an issue price of $10, payable on the following terms: application $3 on allotment $3 on $2 on first call $2 on second call A summary of the applications and allotments register follows: Number of shares applied for 200 000 Number of shares allotted Amount paid per share on application $ 3 150 000 100 000 100 000 $6 50 000 50 000 $10 on 1 September 2016. All money received in excess of applied to amounts due on allotment and calls. Where appropriate, Shares were allotted to all applicants application was refunds of application money were made. All allotment money was received by 30 September 2016. атоиnts duе оn On 1 November 2016, Gundagai Ltd's directors made a call of 42c per share, payable by 30 November 2016. By 31 December, call money had not been received from holders of 25 000 shares. Required Prepare the ledger accounts (running balance format) for the period 1 July to 31 December В. А. Prepare journal entries to record the above events. 2016. Prepare the statement of changes in equity for the period ending 31 December 2016 C.

Group Assignment 5, Due Date: 29 Sep 2019 Problem 16.8 Share issues and statement of changes in equity Gundagai Ltd was incorporated on 30 June 2016. On 1 July 2016, the company issued a prospectus offering 300 000 ordinary shares at an issue price of $10, payable on the following terms: application $3 on allotment $3 on $2 on first call $2 on second call A summary of the applications and allotments register follows: Number of shares applied for 200 000 Number of shares allotted Amount paid per share on application $ 3 150 000 100 000 100 000 $6 50 000 50 000 $10 on 1 September 2016. All money received in excess of applied to amounts due on allotment and calls. Where appropriate, Shares were allotted to all applicants application was refunds of application money were made. All allotment money was received by 30 September 2016. атоиnts duе оn On 1 November 2016, Gundagai Ltd's directors made a call of 42c per share, payable by 30 November 2016. By 31 December, call money had not been received from holders of 25 000 shares. Required Prepare the ledger accounts (running balance format) for the period 1 July to 31 December В. А. Prepare journal entries to record the above events. 2016. Prepare the statement of changes in equity for the period ending 31 December 2016 C.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 81PSA
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Group Assignment 5, Due Date: 29 Sep 2019 Problem 16.8 Share issues and statement of changes in equity Gundagai Ltd was incorporated on 30 June 2016. On 1 July 2016, the company issued a prospectus offering 300 000 ordinary shares at an issue price of $10, payable on the following terms: application $3 on allotment $3 on $2 on first call $2 on second call A summary of the applications and allotments register follows: Number of shares applied for 200 000 Number of shares allotted Amount paid per share on application $ 3 150 000 100 000 100 000 $6 50 000 50 000 $10 on 1 September 2016. All money received in excess of applied to amounts due on allotment and calls. Where appropriate, Shares were allotted to all applicants application was refunds of application money were made. All allotment money was received by 30 September 2016. атоиnts duе оn On 1 November 2016, Gundagai Ltd's directors made a call of 42c per share, payable by 30 November 2016. By 31 December, call money had not been received from holders of 25 000 shares. Required Prepare the ledger accounts (running balance format) for the period 1 July to 31 December В. А. Prepare journal entries to record the above events. 2016. Prepare the statement of changes in equity for the period ending 31 December 2016 C.
Transcribed Image Text:Group Assignment 5, Due Date: 29 Sep 2019 Problem 16.8 Share issues and statement of changes in equity Gundagai Ltd was incorporated on 30 June 2016. On 1 July 2016, the company issued a prospectus offering 300 000 ordinary shares at an issue price of $10, payable on the following terms: application $3 on allotment $3 on $2 on first call $2 on second call A summary of the applications and allotments register follows: Number of shares applied for 200 000 Number of shares allotted Amount paid per share on application $ 3 150 000 100 000 100 000 $6 50 000 50 000 $10 on 1 September 2016. All money received in excess of applied to amounts due on allotment and calls. Where appropriate, Shares were allotted to all applicants application was refunds of application money were made. All allotment money was received by 30 September 2016. атоиnts duе оn On 1 November 2016, Gundagai Ltd's directors made a call of 42c per share, payable by 30 November 2016. By 31 December, call money had not been received from holders of 25 000 shares. Required Prepare the ledger accounts (running balance format) for the period 1 July to 31 December В. А. Prepare journal entries to record the above events. 2016. Prepare the statement of changes in equity for the period ending 31 December 2016 C.
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