Applications were invited by the directors of Grobigg Ltd for 150,000 of its £1 ordinary shares at £1.15 per share payable as follows:

Applications were received for 180,000 shares and it was decided to deal with these as follows:
1 To refuse allotment to applicants for 8,000 shares.
2 To give full allotment to applicants for 22,000 shares.
3 To allot the remainder of the available shares pro rata among the other applicants.
4 To utilise the surplus received on applications in part payment of amounts due on allotment.
An applicant, to whom 400 shares had been allotted, failed to pay the amount due on the first and final call and his shares were declared forfeit on 31 July 2018. These shares were reissued on 3 September 2018 as fully paid at £0.90 per share.
Show how the transactions would be recorded in the company’s books.

Transcribed Image Text:

On application on 1 April 2018 On allotment on 30 April 2018 (including the premium of £0.15 per share) On first and final call on 31 May 2018 Per share £0.75 £0.20 £0.20