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Prakesh ltd. Has issued 10000 equity …

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Prakesh ltd. Has issued 10000 equity shares of rs. 10 each at a premium of 10% on each share, payable as follows: On application rs. 2 On allotment rs. 4 (including premium ) On First call rs. 2 On final call balance Applications were recieved for 12000 shares and directors made a pro rata allotment all the applicants . Kamalesh who hass been allotted 800 shares failed to pay first call and Nagesh who has been applied for 1200 shares failed to pay in final call. All these shares have been forfeited after finall call of the forfeited shares 12000 shares (which include all the shares of kamalesh ) have been re issued @ rs. 9 per share fully paid. Prepare casebook and journal .

Posted by Minakshi Sahu 6 years, 3 months ago

CBSE > Class 12 > Accountancy

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