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X ltd issued 50,000 shares of …

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X ltd issued 50,000 shares of Rs 10 each at a premium of rs 2 per shares payable as follows rs 3 appication, rs 6 on allotement ( including premium) and rs 3 on call. Applications were recived for 75,000 shares and a pro rata allotement was made as follow : To the applicants of 40,000 shares, 30000 shares ware allottement and for the rest 20000 sahres were allottment all money due was recived except the allotment and call money from ram who had applied for 1,200 shares ( out of the group of 40000 sahres) .all his sahres were forfeited. The forfeited shares were reissued for rs 7 per share fully paid up. Pass necessary journal entries for the above transactions

Posted by Sagar Chetri 8 years, 2 months ago

CBSE > Class 12 > Accountancy

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