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Solution Manual for Frank Wood’s Business Accounting Volume 2 14th New edition by Frank Wood

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Answers Answer to Question 2.5A BA 2 (Dates omitted) (a) Ordinary Share Capital Forfeited shares (5,000 × £1) 5,000 Balance b/d 500,000 Application and allotment 70,000 Balance c/d 595,000 Fir... st and final call 30,000 600,000 600,000 Balance b/d 595,000 Balance c/d 600,000 Amber 5,000 600,000 600,000 (b) Share Premium Application and allotment 50,000 Balance c/d 52,500 Forfeited shares 2,500 52,500 52,500 (c) Application and Allotment Bank refunds (75,000 × 65p) 48,750 Bank (200,000 × 65p) 130,000 Bank refunds re: 3 for 4 Bank (100,000 × 55p) 55,000 allotment (25,000 × 65p) 16,250 Ordinary share capital 70,000 Share premium 50,000 185,000 185,000 (d) First and Final Call Ordinary share capital Bank (95,000 × 30p) 28,500 (100,000 × 30p) 30,000 Forfeited shares (5,000 × 30p) 1,500 30,000 30,000 (e) Forfeited Shares First and final call 1,500 Ordinary share capital 5,000 Amber Ltd 1,000 Share premium 2,500 5,000 5,000 ( f ) Amber Ltd Ordinary share capital 5,000 Bank (5,000 × 80p) 4,000 Forfeited shares* 1,000 5,000 5,000 * Discount on reissue © Pearson Education Limited 2019 6 Sangster, Frank Wood’s Business Accounting 2, 14e, Solutions Manual Answer to Question 2.7A BA 2 Grobigg Ltd Application and Allotment Cash: return of unsuccessful Cash: 180,000 × 0.75 135,000 application monies 8,000 × 0.75 6,000 Share capital: Due on application Cash: Balance due on allotment 13,500 and allotment 150,000 × 0.80 120,000 Share premium 150,000 × 0.15 22,500 148,500 148,500 Call Share capital 150,000 × 0.20 30,000 Cash: 149,600 × 0.20 29,920 Forfeited shares 80 30,000 30,000 Forfeited Share [Show More]

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