The following events occurred in the newly formed company, Bourke Ltd, which was registered on 31 January 2025.

Required

(a) Prepare ledger (T accounts) to record the events in the records of Bourke Ltd for 2025.

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2025 Feb. 1 Mar. 1 Bourke Ltd issued a prospectus calling for applications for 600 000 ordinary shares to be issued at a price of $3, payable $2 on application, 50c on allotment and the balance as and when required. Applications closed with the issue oversubscribed by $1 800 000. The directors allotted shares on the basis of 1 share for every 3 applied for. Excess application money was applied against amounts owing on allotment and the balance was refunded. Sept. 20 A final call on shares was made. Oct. 20 Call money was received. Nov. 1 Shareholders were offered a 1-for-5 rights issue at a price of $2.80, with rights to be exercised by 15 December. If rights are not exercised, they will lapse. Dec. 15 Holders of 560 000 shares exercised their rights to take up new shares in accordance with the rights issue by paying the appropriate money to the company.