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What is the share capital of sport field ltd at december

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Reference no: EM132918481

Sport's Field Ltd was registered on 31 January 2019. It invited the public to subscribe to the issue of 35,000 ordinary shares for $1 per share: $0.60 due on application, $0.30 due on allotment and the balance due on call.

10th January Prospectus issued.
1 st March Received applications for 35,000 shares.
2 nd March Allotted 35,000 ordinary shares.
31st March All allotment money received.
1 st November Remaining capital called.
30th November All money due on call is received.

Required

Problem 1. Journalise the transactions.

Problem 2. What is the share capital of sport's field Ltd at 1st of December?

Reference no: EM132918481

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