c.Brown Ltd. Was registerd on 1 February with the Capital of R80 000, divided into 10 000 5% preference shares of R2 each, and R30 000 ordinary share of R2 each, all payable in full on application. The preference shares were applied for and duly alloted. But only 25 000 ordinary shares were applied for and duly allotted.

The dividend on the preference shares was paid on 30 June and 31 December.

The directors declared a dividend of 15 cents per share on the ordinary shares in December, payable in the following January. Show the entries in the journal, cash book and the ledger for the issue of shares and the dividends declared - ignore all other cash book entries

My Journals so far:

1 JAN: BANK A/A dr 70000
To share application and allotment a/c 70000
( being amount received from applicants)

1JAN: Share applications and allotment a/c dr 70000
To ordianry shares 50000
To 5% pREF SHARES 20000


Please can some one help me

Thanks
Dankie

Can't see you need much help you seem to be doing okay

Quote:

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Originally Posted by paraclete

can't see you need much help you seem to be doing okay

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Thank you, but the thing that I'm struggeling with is the (but only 25 000 ordinary shares were applied for and duly allotted.) how do I post or work this out in the journal.

But haven't you already done that