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The share capital of Gus Ltd on 30 June 2019 was: Share capital: 200 000 'A' ordinary shares issued at $4.50, paid to $2.00 100,000

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The share capital of Gus Ltd on 30 June 2019 was: Share capital: 200 000 'A' ordinary shares issued at $4.50, paid to $2.00 100,000 'B' ordinary shares issued at $3, fully paid $400,000 $300,000 $700,000 The company makes a 1-for-4 rights offer to its 'B' ordinary shareholders. The right 01 Nov 2019 are renounceable and allow holders to obtain 'B' ordinary shares for $2.00 per share, payable in full on application. The holders of 16 000 'B' ordinary shares accept the rights offer by the expiry date. 30 Nov 2019 The shares are duly allotted and all money is received. Required Prepare journal entries to record the following transactions in the records of Gus Ltd. (Show all workings)

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