Flexim Packaging issued 1,400,000 ordinary shares of 1 s cach at a premium of 80 cents. The terms of issue were: 45 cents on application $1.10 on allotment including premium 25 cents on the first and final call Application was received for 1,700,000 shares. Applications for 300,000 shares were returned. The money due on the first and final call was received from allottees of 1,394,000 shares; the remaining shares were forfeited and later reissued to another application as fully paid on payment of $1.20 per share. Required: A. Prepare the following accounts: i. Application and allotment ii. Ordinary share eapital iii. Rank account (S marks) iv. Share premium (A marks) v. First and final call (I) marks) vi. Investment: own shares (2) mariss) (3 marks) (a) marks) B. Compure IHRIF (3) chanacteristics of compunies with other forms of burigess arpanisation. (6 marks)