Saved Bookmarks
| 1. |
29. X Ltd. issued 10,000 shares of 10 each at a premium of 2 per sharepayable 32 on application, 5 on allotment (including premium), * 3on first call and 2 on final call.All the shares were subscribed and money received except Mr. A, holderof 500 shares failed to pay allotment and first call and his shares wereforfeited after first call Mr. B holding 300 shares did not pay both thecalls and his shares were also forfeited.Company reissued 600 shares at 8 each fully paid up including allthe shares of Mr. A.Pass journal entries and prepare balance sheet.[Ans. Cash at Bank 1,18,300, Securities Premium Reserve 19,000,Capital Reserve 300, Share Capital: Subscribed and fully paid *98,000 +Share Forfeited A/c 1,000] |
|
Answer» Fjgjd |
|