Provide Journal Entries only to record all of the following events in the books of Stark Industries:

Mr. Tony Stark is the CEO of Stark Industries. On the 31st of March 2018 Stark Industries was registered with the NZ Companies Office. Stark Industries has a balance date of 31 March. The prospectus offered for sale 1,000,000 ordinary shares at $6.5 each. External costs (advertising, legal fees, brokerage fees) associated with the issue were $55,000. The monies were due as follows:

• $2.00 on application;

• $2.00 due on allotment; and

• $2.50 on call 3 months after the allotment of the shares.

  Following is the timeline of events, April 1, 2018 - March 31, 2019:

1. April 1st - Prospectus issued.

2. April 30th - Received applications for 1,150,000 shares and all application monies.

3. May 7th - 1,000,000 ordinary shares were allotted on a pro rata basis. The excess cash received on application is to be retained in the company and set off against amounts receivable at allotment.

4. May 31st - All allotment monies due were received

5. Aug 21st - Remaining capital was called.

6.Sept 5th - All call monies were received.

7.March 31st - The Board declared a dividend of 20 cents per share. Shareholder approval for this dividend will be sought at the annual general meeting in May 2019.

(10 marks)