Alaska Ltd has an authorized share capital of 150,000 ordinary shares of kshs 10 each. Upon incorporation, 50,000 shares were issued and fully paid. The company has decided to issue another 50,000 shares at kshs 15.00 per share payable as follows: On application - kshs 3.00 On allotment - (including a premium of kshs 5.00) kshs 8.00 First call - kshs 2.00 Final call kshs 2.00

Additional information:

1. Applications were received for 85,000 shares out of which 10,000 shares were rejected, the cash being returned immediately to the applicants. The remaining applicants were allotted two shares for every three shares applied for, and the surplus application money was carried forward to the allotment stage.

2. The total amount due on allotment was duly received.

3. All cash due at the first call was received, but the final call resulted in 5,000 shares being forfeited. These shares were subsequently reissued at a price of kshs 13.00 per share.

Required:

Prepare the following ledger accounts:

(a) Bank (2 marks)

(b) Application and allotment (2 marks)

(c) Share capital (2 marks)

(d) Share premium (2 marks)

(e) First call (2 marks)

(f) Final call (2 marks)

(g) Forfeited shares (2 marks)

(h) Re-issued shares (2 marks)