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Question :- Alfa ltd. Invited applications …

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Question :- Alfa ltd. Invited applications for issuing 75000 equity shares of ₹10 each. The amount was payable as follows : On application -₹4 per share On first call -₹3 per share On second call -balance Applications for 1,00,000 shares were received. Shares was allotted to all the applicants on pro rata basis and excess money received with applicants was transferred towards sums due on first call. Vibha who was alloted 750 shares failed to pay the first call. Her shares were immediately forfeited. Afterwards the second call was made. The amount due on second call was also received to mohit for ₹9,000 as fully paid up. Pass necessary journal entries in the books of Alfa ltd. For the above transactions.

Posted by Muskan Kaur 6 years, 10 months ago

CBSE > Class 12 > Accountancy

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