A The following information relates to White Rabbit Trading plc:

On 1 February \(19 \mathrm{X} 7\) the company closed the list of applications for 400,000 ordinary shares at a premium of \(50 \mathrm{p}\). The shares were to be paid for as follows: \(60 \mathrm{p}\) on application, \(25 \mathrm{p}\) on allotment and 15 p on the first and final call, which was to be made on 1 May 19 X7. 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 \(19 \times 7\) the directors decided to make a fresh issue of 500,000 \(£ 1\) redeemable shares at a premium of \(60 \mathrm{p}\), and to redeem all of the existing redeemable shares at a premium of \(40 \mathrm{p}\). The shares had originally been issued for \(£1.20

\) each. All moneys due on application were duly received by 31 March \(19 \mathrm{X} 7\), and the redemption took place on 6 April \(19 X 7\).

In January 19X5 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 balance sheet at 31 January 19X7. On 1 April \(19 \times 7\) the company purchased 400,000 out of a total issue of 500,00025 p ordinary shares in March Hares Ltd, by exchanging 200,000 of its own ordinary shares.

The 8 per cent debentures were redeemed on 15 May \(19 \times 7\) at a 10 per cent premium, and on the same date \(£ 500,0007\) per cent debentures \((19 \times 0 / 19 \times 3)\) were issued at a discount of 5 per cent.

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

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Fixed assets Investments Net current assets Financed by: Summarised Balance Sheet as at 31 January 19X7 Capital and reserves Ordinary shares of 50p each fully paid Redeemable shares of 1 each (19X7/19X1) Share premium Revaluation surplus Profit and loss account Long-term liabilities 8% debentures (19X7/19X0) 000 2,400 120 1,880 4,400 2,000 500 200 400 900 4,000 400 4,400