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Bhamashah Company Limited made an issue …

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Bhamashah Company Limited made an issue of 1,00,000 Equity Shares of 10 each at a premium of 20% payable as follows: On application On allotment On first and final call *2.50 per share, *4.50 per share, and Balance. Applications were received for 2,00,000 Equity Shares and the Directors made pro rata allotment. Ranu who had applied for 800 shares did not pay the allotment and final call money, as a result his shares were forfeited. Later on 80% of the forfeited shares were reissued at 8 per share as fully paid-up. Pass necessary Journal entries for the above mentioned transactions in the books of the company. [Ans.: Capital Reserve- 960.]

Posted by Anisha Singh 3 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 3 years, 3 months ago

On application Rs 2.50 per share On allotment Rs 4.50 per share On first and final call – balance. Applications were received for 2,00,000 equity shares and directors made pro rata allotment Ramu, who had applied for 800 shares did not pay allotment and final call

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