The following information relates to White Rabbit Trading plc:

On 1 February 2017 the company closed the list of applications for 400,000 ordinary shares at a premium of 50p. The shares were to be paid for as follows: 60p on application, 25p on allotment and 15p on the first and final call, which was to be made on 1 May 2017. A total of £1,320,000 was received, the shares were allotted and £1,032,000 was returned to unsuccessful applicants. The call money was received by 31 May from all shareholders, with the exception of two shareholders, one of whom had been allotted 500 shares. The other subscriber for 100 shares still owed £25 for allotment in addition to the call money. Eventually both lots of shares were forfeited and reissued to an existing shareholder for a payment of £500 which was duly received.
At a board meeting on 15 February 2017 the directors decided to make a fresh issue of 500,000 £1 redeemable shares at a premium of 60p, and to redeem all of the existing redeemable shares at a premium of 40p. The shares had originally been issued for £1.20 each. All monies due on application were duly received by 31 March 2017, and the redemption took place on 6 April 2017.
In January 2015 White Rabbit Trading plc had purchased, for cash, 80,000 25p ordinary shares in March Hares Ltd for £25,000, and this is included in investments on the statement of financial position at 31 January 2017. On 1 April 2017 the company purchased 400,000 out of a total issue of 500,000 25p ordinary shares in March Hares Ltd, by exchanging 200,000 of its own ordinary shares.
The 8% loan notes were redeemed on 15 May 2017 at a 10% premium, and on the same date £500,000 7% loan notes (2020/2023) were issued at a discount of 5%.

Required:
Show the full journal entries to record the above events, including cash/bank transactions, in the books of White Rabbit Trading plc.

Transcribed Image Text:

Summarised Statement of Financial Position as at 31 January 2017 Non-current assets Investments Current assets 8% loan notes (2017/2020) Equity Capital and reserves Ordinary shares of 50p each fully paid Redeemable shares of £1 each (2017/2021) Share premium Revaluation surplus Retained profits £000 2,400 120 1,880 4,400 (400) 4,000 2,000 500 200 400 900 4,000