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Signal Plc Called for Subscriptions for 8 Million Shares B)

question 52

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Signal Plc called for subscriptions for 8 million shares.The issue price per share is €3.50 to be paid in three parts: the first payment of €1.00 is to be made on application,€1.50 is to be paid within 1 month of allotment and the remaining €1.00 is to be paid within 3 months of allotment.At the end of July,when applications close,applications for 10 million shares have been received.The shares are allotted on 1 August on a pro rata basis with the excess application money to be applied against the amount due on allotment.The first and final call on the shares is made on 1 October.Assume all amounts on allotment and call are paid by the due date.What are the accounting entries to record these events?


Definitions:

Peripheral Chemoreceptors

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Baroreceptors

Sensory nerve endings in the cardiovascular system that detect changes in blood pressure and help regulate it.

Conscious Control

The capacity to directly and intentionally influence one's own physical or mental actions or processes.

Respiration

The biological process involving the exchange of gases (oxygen and carbon dioxide) between an organism and its environment, facilitating cellular energy production.

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