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What is the balance of the allotment account

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Question - Fraser Ltd issued 10 million shares at a price of $3 on 1 July 2012. The subscribers are required to pay $1 on application, $1 on allotment and the balance on call to be announced at a later date. The share issue was oversubscribed by 2 million shares. On 1 August 2012 the shares were allotted to all subscribers on a pro rata basis. What is the balance of the 'allotment account' and 'share capital' for this share issue on 1 August 2012, respectively?

Reference no: EM132618211

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