Gap-fill exercise

Fill in all the gaps, then press "Check" to check your answers. Use the "Hint" button to get a free letter if an answer is giving you trouble. Note that you will lose points if you ask for hints!

Shares issue


A company has issued 10,000 shares and the following extract has been taken from
the bank account.




Bank
£ £
Application and Allotment Application and Allotment refund 50
Application monies 1550
Allotment monies 1500
First call 3600
Second call 2700
H. Jay 0075

Use the information in this extract to fill in the missing words in the text jn your right. Choose from the list above.



   allotment      application      call      excess      first      forfeited      issued      nominal      oversubscribed      refund      reissued      second   

The company (1) 10,000 six per cent preference shares of £1 each. Investors who wanted to buy the shares had to pay 10% on (2) , 20% on allotment, 40% on the first (3 ) and 30% on the (4) call. The sale was very popular and the issue was (5) (6) Applications were received for 15,500 shares. A (7) of the money for 500 shares was made. An (8) was made on the basis of two shares for every three applied for, for the remaining 15,000. The (9) application monies were set off against the (10) monies asked for.


The holder of 1,000 shares didn’t pay the (11) and second calls and his shares were (12) . These shares were then (13) at 75% of (14) value to H. Jay.