FAC1601/101/3/2020 ASSIGNMENT 02 - SECOND SEMESTER (continued) QUESTION 6 Soccer Ltd was incorporated on 1 March 2020 with an authorised share capital of 300 000 ordinary shares with no par value. During March 2020, 50 000 ordinary shares were offered to the founders of the company at R10 each. These shares were taken up and paid for by the founders. On 1 May 2020 the company offered 70 000 ordinary shares at R10 each for subscription to the public. The issue was underwritten by Rugby Investment Bank at a commission of 4%. Applications for 50 000 shares were received by 5 June 2020, the closing date for applications. The shares were allotted on 15 July 2020 and all transactions were Which one of the following alternatives represents the amount that Rugby Investment Bank Ltd had to pay to Soccer Ltd in full settlement when all transactions were finalised on 15 July 2020? 1. Debit Credit R R Underwriters commission (P&L) 28 000 Rugby Investment Bank (Account Payable) 28 000 2. Debit Credit R Rugby Investment Bank (Account Payable) Bank R 172 000 172 000 3. Debit Credit R Bank Rugby Investment Bank Account Receivable) R 172 000 172 000 4. Debit Credit R Bank Rugby Investment Bank (Account Receivable) R 200 000 200 000