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Financing of companies. Shares II 2.3.4(a). Issue of shares by instalment. Authorised capital of RM200,000 comprising of 200,000 Ordinary shares of RM1 each. 10,000 Ordinary shares of RM1 each offered for application at RM1.20 each on the following term of payment: Application 30 sen

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financing of companies

Financing of companies

Shares II

2.3.4(a)

issue of shares by instalment
Issue of shares by instalment

Authorised capital of RM200,000 comprising of 200,000 Ordinary shares of RM1 each. 10,000 Ordinary shares of RM1 each offered for application at RM1.20 each on the following term of payment:

Application 30 sen

Allotment 50 sen (including premium)

Call 1 20 sen

Call 2 20 sen

shares applied in full and payment on application and allotment received accordingly
Shares applied in full and payment on application and allotment received accordingly.

Application:

Dt Bank 3,000 Cr App 3,000

Allotment:

Dt Bank 3,000 Cr Allot 3,000

Dt App 3,000 Cr OSC 3,000

Dt Allot 5,000 Cr OSC 3,000

Cr Sh Prem 2,000

when call 1 made
When Call 1 made

Dt. Call 1 2,000 Cr OSC 2,000

1- fully paid

Dt. Bank 2,000 Cr OSC 2,000

2- only half paid

Dt. Bank 1,000 Cr Call 1 2,000

Dt. Call in arrears 1,000

slide5
Dt. Call 1 2,000 Cr OSC 2,000

3 – If payment received for Call 1 and 2

Dt. Bank 4,000

Cr Call 1 2,000

Cr Call in advance 2,000

balance sheet allotment
Balance sheet : Allotment

RM

Asset : Cash 8,000

*****************************************************************************

Authorised capital

200,000 OS of RM1 each 200,000

Issued and paid-up capital

10,000 OS of RM1 each paid up to 60 sen 6,000

Share premium 2,000

balance sheet call 1
Balance sheet : Call 1

1- fully paid RM

Asset : Cash 10,000

**********************************************************************

Authorised capital

200,000 OS of RM1 each 200,000

Issued and paid-up capital

10,000 OS of RM1 each paid up to 80 sen 8,000

Share premium 2,000

slide8
2 – only half paid

RM

Asset : Cash 9,000

**********************************************************************

Authorised capital

200,000 OS of RM1 each 200,000

Issued and paid-up capital

10,000 OS of RM1 each paid up to 80 sen 8,000

Share premium 2,000

Less : Call in arrears (5,000 shares) (1,000)

9,000

slide9
3 – payment received for Call 1 and 2

RM

Asset : Cash 12,000

**************************************************************************

Authorised capital

200,000 OS of RM1 each 200,000

Issued and paid-up capital

10,000 OS of RM1 each paid up to 80 sen 8,000

Share premium 2,000

Add : Call in advance (10,000 shares) 2,000

12,000