Question 3 Jahblum Ltd issued 700 000 ordinary shares of $1 each at a premium of $0.80 cents. The terms of issue were that $0.45 cent on application and $1.10 on allotment including the premium and $0.25 payable on first and final call. Application was received for 850 000 shares. The directors allotted 700 000 shares to the successful applicants and returned application money to the unsuccessful applicants. The money due on the first and final call was received from the allottees, however, 3000 shares were forfeited and later reissued to another applicant as fully paid on payment of $1.20 per share. Required: A. Prepare the following accounts in Jahblum books: i. ii. iii. iv. V. vi. Bank A/c Application and Allotment Ordinary Share Capital Share Premium First and final call Investment: Own Shares (5 marks) (5 marks) (2 marks) (2 marks) (3 marks) (3 marks) (Total 20 marks)