What the balance in the share capital account would be

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Problem 1: Contact Ltd was registered as a corporation on 1 July 2020. On 3 July 2020, Contact Ltd issued a prospectus offering 60 000 ordinary shares at an issue price of $6.00 each, payable $3.00 on application and $3.00 on allotment Application closed on 1 August 2020 with the company having received applications for 70 000 shares. The shares were allotted on 15 August 2020, with the over-subscription amount being refunded to unsuccessful applicants. All allotment monies were received by 31 August 2020. Following the allotment, the balance in the Share Capital account would be

Reference no: EM132969458

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