Semaphore Plc Called for Subscriptions for 15 Million Shares B) $\text { Summary entry for September: }$

Semaphore Plc called for subscriptions for 15 million shares.The issue price per share is €2.50 to be paid in two parts: the first payment of €1.00 is to be made on application and the remaining €1.50 is to be paid within 1 month of allotment.At the end of September,when applications close,applications for 19 million shares have been received.The shares are allotted on 1 October on a pro rata basis with the excess application money to be applied against the amount due on allotment.All amounts on allotment are paid by the due date.What are the accounting entries to record these events?

A) $\begin{array}{l}\text { Summary entry for September: }\\\begin{array}{|c|l|r|r|}\hline \mathrm{Dr} & \text { Bank trust } & 19000000 & \\\hline \mathrm{Cr} & \text { Application } & & 19000000 \\\hline& & & \\\hline 1 \text { October: } & & \\\hline \mathrm{Dr} & \text { Application } & 15000000& \\\hline \mathrm{Cr} & \text { Share capital } & & 15000000\\\hline & & & \\\hline \mathrm{Dr} & \text { Allotment } & 22500000& \\\hline \mathrm{Cr} & \text { Share capital } & &22500000 \\\hline\\\hline\text { Dr } & \text { Application } & 4000000 & \\\hline \mathrm{Cr} & \text { Allotment } & & 4000000 \\\hline\\\hline \mathrm{Dr} & \text { Cash at bank } & 19000000 & \\\hline \mathrm{Cr} & \text { Bank trust } & & 19000000\\\hline\\\hline{\text { Summary entry for } 1 \text { November: }} & & \\\hline \mathrm{Dr} & \text { Cash at bank } & 18500000 & \\\hline \mathrm{Cr} & \text { Allotment } & & 18500000\\\hline\end{array}\end{array}$

B) $\text { Summary entry for September: }$
$\begin{array}{|l|l|r|r|}\hline \mathrm{Dr} & \text { Bank trust } & 19000000 & \\\hline \mathrm{Cr} & \text { Allotment } & & 19000000 \\\hline\\\hline {\text {1 October: }} & & \\\hline \mathrm{Dr} & \text { Allotment } & 15000000 & \\\hline \mathrm{Cr} & \text { Share capital } & & 15000000 \\\hline\\\hline \mathrm{Dr} & \text { Application } & 22500000 & \\\hline \mathrm{Cr} & \text { Share capital } & & 22500000 \\\hline & & & \\\hline \mathrm{Dr} & \text { Allotment } & 4000000 & \\\hline \mathrm{Cr} & \text { Application } & & 4000000 \\\hline\\\hline \mathrm{Dr} & \text { Cash at bank } & 19000000 & \\\hline \mathrm{Cr} & \text { Bank trust } & & 19000000 \\\hline{\text { Summary entry for 1 November: }} & & \\\hline \mathrm{Dr} & \text { Cash at bank } & 18500000 & \\\hline \mathrm{Cr} & \text { Application } & & 18500000 \\\hline\end{array}$
C) $\text { Summary entry for September: }$
$\begin{array}{|l|l|r|r|}\hline \mathrm{Dr} & \text { Bank trust } & 15000000 & \\\hline \mathrm{Cr} & \text { Application } & & 15000000 \\\hline\\\hline {\text {1 October: }} & & \\\hline \mathrm{Dr} & \text { Application } & 19000000 & \\\hline \mathrm{Cr} & \text { Share capital } & & 19000000 \\\hline\\\hline \mathrm{Dr} & \text { Alloment } & 22500000 & \\\hline \mathrm{Cr} & \text {Share capital} & & 22500000 \\\hline & & & \\\hline \mathrm{Dr} & \text { Allotment } & 4000000 & \\\hline \mathrm{Cr} & \text { Application } & & 4000000 \\\hline\\\hline \mathrm{Dr} & \text { Bank trust } & 19000000 & \\\hline \mathrm{Cr} & \text { Cash at bank } & & 19000000 \\\hline{\text { Summary entry for 1 November: }} & & \\\hline \mathrm{Dr} & \text {Bank trust } & 18500000 & \\\hline \mathrm{Cr} & \text { Allotment } & & 18500000 \\\hline\end{array}$


D) $\text { Summary entry for September: }$

$\begin{array}{|l|l|r|r|}\hline \mathrm{Dr} & \text { Bank trust } & 22500000 & \\\hline \mathrm{Cr} & \text { Alloment } & &22500000 \\\hline\\\hline {\text {1 October: }} & & \\\hline \mathrm{Dr} & \text { Alloment } & 22500000 & \\\hline \mathrm{Cr} & \text { Share capital } & & 22500000 \\\hline\\\hline \mathrm{Dr} & \text { Application } & 19000000 & \\\hline \mathrm{Cr} & \text { Share capital} & &19000000 \\\hline & & & \\\hline \mathrm{Dr} & \text { Application } & 4000000 & \\\hline \mathrm{Cr} & \text { Alloment} & & 4000000 \\\hline\\\hline \mathrm{Dr} & \text { Cash at bank} & 18500000 & \\\hline \mathrm{Cr} & \text { Bank trust} & & 19000000 \\\hline{\text { Summary entry for 1 November: }} & & \\\hline \mathrm{Dr} & \text {Bank trust } & 18500000 & \\\hline \mathrm{Cr} & \text { Application} & & 18500000 \\\hline\end{array}$