A company issued 10,000 shares of the value of Rs. 10 each, payable Rs. 3 on application, Rs. 3 on allotment and Rs. 4 on the first and final call. Al

Monjur Alahi

A company issued 10,000 shares of the value of Rs. 10 each, payable Rs. 3 on application, Rs. 3 on allotment and Rs. 4 on the first and final call. All amounts are duly received except the call money on 100 shares. These shares are subsequently forfeited by Directors and are resold as fully paid-up for Rs. 500.
Give necessary Journal entries for the transactions.


0 like 0 dislike
1 views
Share with your friends

1 Answers

Salim Ahmed Kawsar

Call

Correct Answer - Capital Reserve-Rs. 100.

0 like 0 dislike
1 views
Talk Doctor Online in Bissoy App
Authorised capital of Suhani Ltd. is Rs. 45,00,000 divided into 30,000 shares of Rs. 150 each. Out of these company issued 15,000 shares of Rs. 150 ea

Correct Answer - Share Capital-Rs. 21,00,000.

2 Answers 1 views
Eastern Company Limited, having an authorised capital of Rs. 10,00,000 divided into shares of Rs. 10 each, issued 50,000 shares at a premium of Rs. 3

Correct Answer - Balance Sheet Total-Rs. 5,49,700.

2 Answers 1 views
Sugandh Ltd. issued 60,000 shares of Rs. 10 each at a premium of Rs. Per share payable as Rs. 3 on application, Rs. 5 (including premium) on allotment

Correct Answer - Amount received on allotment-Rs. 2,05,800.

2 Answers 7 views
Green Ltd. issued 8,000 Equity Shares of Rs. 10 each. Rs. 5 per share was called, payable Rs. 2 on application, Rs. 1 on allotment, Rs. 1 on first cal

Correct Answer - Balance Sheet Total-Rs. 37,000.

2 Answers 2 views
Black Stone Ltd. issued 10,000 Equity Shares of Rs. 10 each at a premium of Rs. 3 per share payable Rs. 5 on application, Rs. 5 (including premium) on

Correct Answer - Forfeited Shares A/c-Rs. 1,000.

2 Answers 1 views
Super Star Ltd. makes an issue of 10,000 Equity Shares of Rs. 100 each, payable as: `{:("On application and allotment"," Rs. 50 per share,"),("On firs

Correct Answer - Capital Reserve-Rs. 5,000.

2 Answers 1 views
Sunshine Ltd. issued 20,000 shares of Rs. 100 each payable Rs. 25 per share on application, Rs. 25 per share on allotment and the balance in two calls

Correct Answer - Capital Reserve-Rs. 18,000.

2 Answers 1 views
Commerce Publications Ltd. issued 50,000 Equity Shares of Rs. 10 each at a premium of 10% payable as under: `{:("On application","Rs. 2,","On first ca

Correct Answer - Capital Reserve-Rs. 500.

2 Answers 1 views
Alfa Ltd. invited applications for issuing 75,000 equity shares of Rs. 10 each. The amount was payable as follows: `{:("On application and allotment "

Correct Answer - Capital Reserve-Rs. 3,250.

2 Answers 2 views
Amrit Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 2 per share payable as Rs. 3 on application, Rs. 4 on allotment (including premium)

Correct Answer - Allotment money not paid by Sonu-Rs. 2,000; First call not paid by Sonu-Rs. 1,600; Capital Reserve-Rs. 3,600.

2 Answers 1 views
X