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Eagle company limited made an issue …

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Eagle company limited made an issue of 1000equity shares of rs 10each payable as follows: On application 3per share On allotment. 2per share On first and final call 5 per share X the holder of 1000shares did not pay the call money and his shares were forefeited and reissued as fully paid at rs 8 per share. Draft necessary jouranal entries

Posted by Diya Gupta 4 years, 1 month ago

ICSE & ISC > Class 12 > Accountancy

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Durga ltd invited applications for issuing 100000 shares of ₹10each at par. On application ₹2per share on allotment ₹ 3 per share on final call ₹5 per share. Applications were received for 280000 shares. Applications for 30000 shares were rejected and the money refinded.

Posted by Saanvi Tuli 10 months, 2 weeks ago

ICSE & ISC > Class 12 > Accountancy

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Posted by Nikhil 02 1 year, 4 months ago

ICSE & ISC > Class 12 > Accountancy

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Posted by Piyush Singh 1 year, 11 months ago

ICSE & ISC > Class 12 > Accountancy

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Posted by Anuj Dwivedi 6 months, 2 weeks ago

ICSE & ISC > Class 12 > Accountancy

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Posted by Adesh Partap 1 year, 8 months ago

ICSE & ISC > Class 12 > Accountancy

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Posted by Diksha Arora 1 year, 6 months ago

ICSE & ISC > Class 12 > Accountancy

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Posted by Hiba Siddiqui 1 year, 3 months ago

ICSE & ISC > Class 12 > Accountancy

1 answers

Joy and Bijoy started a partnership business on 1st April 2019 bringing a capital of 60,000 and 40.000respectively. On 1st December , 2019, Bijoy gave a loan of ? 20.000 to the firm at an interest of 9% per annum. During the year they made a profit of 30,000. The other terms and conditions of the partnership were as follows The profits and losses would be shared in the ratio of initial capital. (1) Bijoy would be entitled to a salary @ 600 per month (i) Drawings of the partners were : Joy * 6,000 : Bijoy 9.000 Show Profit and Loss Appropriation

Posted by Kunal Agarwal 1 year, 11 months ago

ICSE & ISC > Class 12 > Accountancy

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Ram and shyam are partners in a firm sharing profits in the ratio 3:5 . Their fixed capitals were Ram : 500000 and Shyam : 900000 . The partnership deed provided IOC @10% p.a. but it was found that IOC has been omitted. Pass necessary rectify entry

Posted by Satyam Sharma 6 months ago

ICSE & ISC > Class 12 > Accountancy

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On March 31st ,2020 the balances in the capital accounts of Alka, Hardik and Ramneek after making adjustment for profits and drawings were rupees 9,00,000;rupees 5,00,000 and rupees 3,00,000 respectively.Subsequently it was discovered that the interest on capital and drawings has been omitted .The profit for the year ended 31st March 2020 was rupees 1,80,000.During the year Alka and Ramneek each withdrew a sum of rupees 40000.Hardik withdrew a total of rupees 60,000 in equal installments in the middle of each quarter. Interest on drawing was to be charged @ 5% p.a. and interest on capital was to be allowed @10% per annum. The profit sharing ratio was 3:1:1. Showing your working clearly ,pass the necessary rectifying entry.

Posted by Hitanshi Parmar 1 year, 9 months ago

ICSE & ISC > Class 12 > Accountancy

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