ABC ltd. Has issued 10000 equity …
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ABC ltd. Has issued 10000 equity shares of rs. 10 each at a discount of 10 % on each share payable as follow:
On application rs. 2 , on allotment rs. 3 , on 1st call rs. 3 , on 2 nd and finalll call balance.
Applications were recieved for 18000 shares and the directors made allotment in tje following Way :
1. Applicants for 2000 Nil :
2. Applicants for 4000 full :
3. Applicants for 12000 balance sheet
Kundan who has been alloted 1800 shares from Group B failed yo pay allotment and karan who has been allotted 1400 shares from Group C on first and final call . All these shares have been forfeited after finall call of the forfeited shares 2000 shares ( which include all the shares of karan) have been re issued @ rs. 8 per share fully paid . Prepare cash book and journal entries in the books of Ramakrishna ltd.
Posted by Minakshi Sahu 4 years, 7 months ago
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