4 Accounting for companies and review of financial reports (13 marks) Blanc Ltd is a...
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4 Accounting for companies and review of financial reports (13 marks) Blanc Ltd is a listed company, which issued a prospectus to raise $6,000,000 by issuing 200,000 ordinary shares for $30 per share. The applicants paid $20 per share of subscription monies on application and the $10 balance per share was receivable from applicants when the shares were allotted. The company received applications for 230,000 ordinary shares when the offer period closed on 7 May 2020. On 21 May 2020 the company allotted the 200,000 shares to the applicants and refunded the monies oversubscribed 23 May 2020 the company paid $100,000 of share issue costs On 11 June 2020, the company received the allotment monies owing by the shareholders. Required Prepare the general journal entries below to record the above transactions for Blanc Ltd
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