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KM Ltd invited applications for 50,000 ordinary shares of no par value at GH100 each payable as follows: Application GH0, Allotment GH$20, 1st call GH20
KM Ltd invited applications for 50,000 ordinary shares of no par value at GH100 each payable as follows: Application GH0, Allotment GH$20, 1st call GH20 and Final call GH$20. Applications were received for 60,000 shares and the directors decided to reject 5,000 shares and alloted the remaining shares on pro rata basis among other applicants, excess monies being retain against allotment. All calls were made and all monies paid except P. Salford who could not pay the amount due on the 1st call for the 2,000 shares allotted to him. The directors consequently forfeited his shares and these were later on offered to Ama Diola who paid full issue price of GHe 100 for each. Calculate the amount charged to share capital account from first call account A GH.960 1. Gheo - CGH1980 DGH1860
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