InterviewSolution
Saved Bookmarks
InterviewSolution
| 1. |
Dogra Ltd. had an authorised capital of ₹ 1,00,00,000 divided into Equity Shares of ₹ 100 each. The company offered 84,000 shares to the public at premium.The amount was payable as follow: On Application — ₹ 30 per share, On Allotment — ₹ 40 per share(including premium), On First and Final call — ₹ 50 per share. Applications were received for 80,000 shares.All sums were duly received except the following: Lakhan, a holder of 200 shares did not pay allotment and call money. Paras, a holder of 400 shares did not pay call money.The company, forfeited the shares of Lakhan and Paras. Subsequently the forfeited shares were reissued for ₹ 80 per share as fully paid-up . Show the entries for the above transactions in the Cash Book and journal of the company |
|||||||||
|
Answer» Dogra Ltd. had an authorised capital of ₹ 1,00,00,000 divided into Equity Shares of ₹ 100 each. The company offered 84,000 shares to the public at premium. The amount was payable as follow:
Applications were received for 80,000 shares. All sums were duly received except the following: Lakhan, a holder of 200 shares did not pay allotment and call money. Paras, a holder of 400 shares did not pay call money. The company, forfeited the shares of Lakhan and Paras. Subsequently the forfeited shares were reissued for ₹ 80 per share as fully paid-up . Show the entries for the above transactions in the Cash Book and journal of the company |
||||||||||