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Bhawna Ltd invited applications for issuing …

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Bhawna Ltd invited applications for issuing 2,00,000 equity shares of Rs 10 each. The amounts were payable as follows: On application - Rs 3 per share On allotment -Rs 5 per share, On first and final call- Rs 2 per share Applications were received for 3,00,000 shares and pro-rata allotment was made t all the applicants. Money overpaid on application was adjusted towards allotment. who was allotted 3,000 shares, failed to pay the first and final call money. His sha were forfeited. Out of the forfeited shares, 2,500 shares were re-issued as fully pai up@ Rs 8 per share. Pass necessary journal entries to record the above transactio in the books of Bhawna Ltd.

    • Posted by Samridhi Sri 4 years ago

    CBSE > Class 09 > Other Subjects
    • 0 answers
    ANSWER
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