York and Ganny Ltd issued a Prospective on 21 January for 10,000 ordinary share of no par value at Ghc500 each. The shares are payable as follows: od 2 February Ghc100 is payable on Application th 4...

Extracted text: York and Ganny Ltd issued a Prospective on 21 January for 10,000 ordinary share of no par value at Ghc500 each. The shares are payable as follows: od 2 February Ghc100 is payable on Application th 4 February Ghc200 is payable on Allotment th 10 February Ghc150 is payable on 1 Call th 28 February Ghc50 is payable on 2 final Call The issue was fully subscribed and all monies were duly received as they become due. Required : a) Show the ledger Entries b)Discuss how amount accrued from oversubscription would treated by the company if oversubscription had occurred c)Using practical example with figures, explain how Debenture issued at premium would be treated in the financial statement