Chandar ltd invited application for issuing …
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Chandar ltd invited application for issuing 8,00,000 shares of 10 each at Rs 17 per as follows
Application Rs6(including premium Rs 2)
Allotment Rs5( Including premium Rs3)
First call and final call Rs6
Application were received for 12,00,000sahres and pro rata allotment was made to all applicants as follows
1)application for 7,00,000 shares were allotted 5,00,000 shares
2)applicants for 5,00,000 share were allotted 3,00,000shares
Raghu who belongs to first category and was alloted 2,500 shares failed to pay allotment and call money .
Dilip who belong to secondary category and who applied for 2,000 shares failed to pay call money .their shares were forfeited and 3,000 of forfeited shares were reissued at 9 per share as fully paid. Re issued shares include whole shares of raghu's shares.
Pass necessary journal entries in book of Chandra Ltd.by opening call in arrear account
Plz answer the whole question
Posted by Harshita Lalwani 4 years, 4 months ago
- 1 answers
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Bippen Sharma 4 years, 4 months ago
2Thank You