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Jossy Company Plc has a nominal capital of N70000000

Jossy Company Plc has a nominal capital of N70,000,000 divided into 6% preference sharess of 40,000,000 at N1.00 each. 

The company issued all the ordinary shares fully paid. 15,000,0006% prefernce shares of N1.00 each at N0.95K were offered for public subscription on 5th May 1985 payable as follows:
 
50K per share on Application
 
30K per share on Allotment
 
15K per share (discount of 5K) on first andfinal call a month after allotment.
 
The balance at bank was N20,000,000 on 5th May 1985. All the shares were subscribed and allotted.  Application and Allotment money were received on 10th and 20th May1985. Show the necessary entre is in the books of Jossy Company Plc

Apr 20 2018 View more View Less

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