ART B: Problem Solving and Concept Quetivons QUESTION 1: Answer ALL FOUR questions 00 marks) On 1 Apri 2017. Flower was ragistered and offered 1 000 000 ordirary hars to te public at an issue price of $1o, payatle as tolows 2A mars $5 on application (due 1 May) $3 on aliotment (oue 1 Jul $2 on final call By the 25 April 2017 the company had received applications for 1 150 000 ordinary ha which applicants for 150 000 shares sent the full$10 per share, anuther 200 00 shares sert $8 per share and the remainder paid only the application amourt. At the director's meeting on 2 May 2017, it was decided to sllct shares in soplicarts who had paid the ful amount and also to those who paid the alctment in advance, wd proportionally to all remaining applicants. According to the company's consthaton al supa money from application can be transferred to Allotment andior Cal accounts. The underwriter was paid a commission of $11 250 and other share issue costs amourted to $7 210, all cost of share issue were paid on 25 June 2017. All alotment money was received by the due date. The final call was made on 1 Dncember with money due by 15 December. Al money was received on the due date, except for the holder of 3 000 shares who taled to meet the fral call. On 16 December, as provided for in the constitution, the directors decided to fortet these shares. Required Prepare the journal entries to record the transactions of Flower Lid up to and incuding that which took place till 16 December 2017. (Show all workings where necessary and state the joumal entry descriptions where missing (3 marks) Allocation of money received on application Cal Aletnent No. of Shares Allotted Money Received Application No. of Shares applied for ACCY201 Financial Accounting IB ART B: Problem Solving and Concept Quetivons QUESTION 1: Answer ALL FOUR questions 00 marks) On 1 Apri 2017. Flower was ragistered and offered 1 000 000 ordirary hars to te public at an issue price of $1o, payatle as tolows 2A mars $5 on application (due 1 May) $3 on aliotment (oue 1 Jul $2 on final call By the 25 April 2017 the company had received applications for 1 150 000 ordinary ha which applicants for 150 000 shares sent the full$10 per share, anuther 200 00 shares sert $8 per share and the remainder paid only the application amourt. At the director's meeting on 2 May 2017, it was decided to sllct shares in soplicarts who had paid the ful amount and also to those who paid the alctment in advance, wd proportionally to all remaining applicants. According to the company's consthaton al supa money from application can be transferred to Allotment andior Cal accounts. The underwriter was paid a commission of $11 250 and other share issue costs amourted to $7 210, all cost of share issue were paid on 25 June 2017. All alotment money was received by the due date. The final call was made on 1 Dncember with money due by 15 December. Al money was received on the due date, except for the holder of 3 000 shares who taled to meet the fral call. On 16 December, as provided for in the constitution, the directors decided to fortet these shares. Required Prepare the journal entries to record the transactions of Flower Lid up to and incuding that which took place till 16 December 2017. (Show all workings where necessary and state the joumal entry descriptions where missing (3 marks) Allocation of money received on application Cal Aletnent No. of Shares Allotted Money Received Application No. of Shares applied for ACCY201 Financial Accounting IB