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X Ltd. Company issued rs.1000000shares for …

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X Ltd. Company issued rs.1000000shares for subscription of rs.100 each at a premium of rs.20 per share payable as rs.10 on application ,rs.40 per share and rs.10 premium on allotment ,& rs.50 per share & rs.10 premium on final payment. Over payment on app.were to be applied towards amounts due on allotment &over payments on app.exceeds amounts due on allotment was to be returned. Issue was overscribed to the extend of 13000 shares. Applicants for 12000 shares were alloted only 10000 shares & applicant for 2000 shares were sent letter of regret. Allthe money due on allotment and final call was duly received. Pass entry in company book and company balance sheet.

Posted by Smita Kumari 8 years, 6 months ago

CBSE > Class 12 > Accountancy

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