BERJAYA Bhd incorporated on 6 April 2018 and it offered for subscription an initial offering of 50,000,000 ordinary shares of par value RM1 each, at a price of RM5 per share. Applications for 20,000,000 shares were received from institutional investors and applications for 35,000,000 shares from retail investors. Applications closed on 28 February 2018 and all the money due was received. The money received on the oversubscribed shares from the retail investors was refunded. Allotment of shares was completed by 16 May 2018.

REQUIRED:

i. Show the necessary journal entries.

ii. Prepare an extract of Statement of Financial Position.