Kayafab Ltd. issued 1,00,000 equity shares …

Kayafab Ltd. issued 1,00,000 equity shares of Rs. 10 each payable as Rs. 2 on application; Rs. 4 on allotment and Rs. 2 each on first and final call. Applications were received for 1,50,000 shares. Applicants of 50,000 shares were sent letters of regret and application money was refunded Madhur, a holder of 3,000 shares failed to pay allotment money which he paid along with the first call. Rohan, a shareholder holding 700 shares paid both the calls along with allotment. Sohan, a holder of 1,000 shares did not pay the first call and the final call. His shares were forfeited. The forfeited shares were reissued at Rs. 11 per share as fully paid-up. Pass necessary journal entries for the above transactions in the books of the company.​ 1 SEE ANSWER ADD ANSWER +5 PTS Log in to add comment ajilbhargavan14 is waiting for your help. Add your answer and earn points. Answer 7 saivamshi96goud Ambitious 28 answers 664 people helped Explanation: Money received in Share application account - 4,50,000 (1,50,000 X 3) Less: Money for share allotment - 3,00,000 (100000 X 3) Less: money for shares rejected - 60,000 (20000 X 3) To keep reading this answer, download the free app Join millions of students having fun with homework 4.6 VIEW ANSWER IN-APP mitgliedd1 and 7 more users found this answer helpful THANKS 7 0.0 (0 votes) Still have questions? FIND MORE ANSWERS ASK YOUR QUESTION New questions in Accountancy 620 From the following Receipts and Payment Account of Pioneer Cricket Club and from theinformation supplied, prepare Income and Expenditure Account f … 78. Jounalise the following transactions and post them to ledger accounts. 2017 Jan 01 Jan 04 Jan 10 Jan 20 Jan 25 Jan 31 ₹ 1,20,000 20,000 30,000 10, … Give one word/phrase/term. 2) organization which are owned by government​ The Capital accounts of Tisha and Divya Question 44)Stock on date of fire is Rs.50,000 andPolicy amount is Rs. 25,000 and the entirestock is destroyed, claim will be​ Q.11. The following are the details of a spare part of Sriram mills:Nil1-1-2016Opening InventoryPurchases1-1-2016100 units @ Rs. 30 per unitIssued for … Write a program using HTML with following specificationThe background colour should be redThe text colour should be green.- The heading should be larg … 13) Indian retailers face the challengeofA) Satellite ChannelsB) Cash transactionsC) InfrastructureD) Manpower​ Accountancy .... class 11 th ....​ Hola chic@s, alguien conoce sobre el tema, llevé esta materia hace 11 años en bachillerato y ahora lo veo en lic y no recuerdo bien.Capitalización bur … Previous Next Ask your question WE'RE IN THE KNOW This site is using cookies under cookie policy. You can specify conditions of storing and accessing cookies in your browser Company About us Blog Careers Advertise with us Terms of Use Privacy Policy Cookie Policy Community Brainly Community Brainly for Schools & Teachers Community Guidelines Content Guidelines Honor Code Become a Volunteer Help Signup Help Center Safety Center Responsible Disclosure Agreement Get the Brainly App Download Android App

Madhuri and Arsh were partners in a firm sharing profits and Their Balance Sheet as at 31 ^ (st) * M * a * r * c * h 2019, was as follows: losses in the ratio of 3: 1. Balance Sheet of Madhuri and Arsh As on 31 ^ (st) March, 2019 4 Assets Amount (3) Liabilities Amount () 4,70,000 1,10,000 Capital Madhuri Arsh 1,20,000 2,00.000 Machinery Investments 5,00,000 Debtors Less: Provision for doubtful 60,000 debts Workmen's Compensation Fund (10,000) 1,10,000 Creditors Employees' Provident Fund 1,90,000 Stock 1,10,000 8,60,000 Cash 1,40,000 30,000 8,60,000 On 1 ^ (st) April, 2019, they admitted Jyoti into partnership for 1 / (4 ^ (th)) share in the profits of the firm. Jyoti brought proportionate capital and 40,000 as her share of goodwill premium. The following terms were agreed upon; (i) Provision for doubtful debts was to be maintained at 10% on debtors. (ii) Stock was undervalued by 10,000. (iii) An old customer whose account was written off as bad, paid 15,000.. (iv) 20% of the investments were taken over by Arsh at book value. (v) Claim on account of workmen's compensation amounted to 70,000. (vi) Creditors included a sum of 27,000 which was not likely to be claimed. Prepare Revaluation Account, Partners' Capital Accounts and the Balance Sheet of the reconstituted firm

ABC aur partners having profit equally b is guaranteeng minimum profit of the 2 lakhs per annum salary is payable to be of 10000 per month net profit for the year ending 31st March 2024 is 660000

Radha and rukmani are partners in a firm with fixed capitals of rs 200000 and 300000 respectively

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Dev with true rupees 10 10000 on 15th day of every month interest on drawing was be changed a 12% per annum calculate interest on their string

Sita and Geeta are partners in a firm sharing profits in the ratio of 3:2 They had given a loan to a firm for 30000 in their profit sharing ratio 1st October 2021The partnership deed is silent on interest on loan from partner compute interest payable by the firm to the partner assuming the firm closer it's book every year on 31 March

Tom and Josh are partners in a firm sharing profits and losses in the ratio of 3 1. They admed Max as a new partner 1/10th share in the profits and losses. Max contributes the following assets to his capital and his share for goodwill: Sma a0,000 Land and Building 3,00,000, Plant and Machinery 2,60,000, Capital 74,00,000. Record the journal entries in the books of the firm on Max's admission. necesey

Dev withdrew rs.10000 of 15th day of every month.

Chapter 1 solution

(Interest on capital when closing capital is given) A and B are partners sharing profits and losses in the ratio 4: 3. Their capital on 31st December, 2022 were 3,00,000 and 2,00,000 respectively. During the year, their drawings were 50,000 each. The firm earned profit amounting to 70,000 for the year ending 31st December, 2021. Later on they decided that interest on their capital be charged at 10% p.a. Compute interest on Capital.