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please solve both parts urgently...time limit is very short... I'll give you up thumb definitely On 30 September 2020, Jacaranda Ltd issued a prospectus calling
please solve both parts urgently...time limit is very short... I'll give you up thumb definitely
On 30 September 2020, Jacaranda Ltd issued a prospectus calling for applications for 600000 ordinary shares at an issue price of $3, payable $1.50 on application and $1.50 on allotment. By the closing date of 31 October 2020 , the company had received the following application money: On 15 November, it was decided to allot to applicants who paid more than the application money the number of shares applied for, and to applicants who paid only the application money 480000 shares. Application money was refunded to 20000 unsuccessful applicants. The constitution gives the directors the power to apply excess application money to allotment. All other allotment money was received by 31 December 2020. Required Write Journal entries and Prepare the necessary ledger accounts to record the above transactions. (12 marks)Step by Step Solution
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