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OTUA Ltd. was registered with an …

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OTUA Ltd. was registered with an authorised capital of 2,00,000 equity shares of ₹ 100 each. The company offered 60,000 shares for public subscription at 25% premium. The share was payable as ₹ 40 on application and balance on allotment, with premium. Public had applied for 85,000 shares. Pro-rata allotment was made in the ratio of 5:4 and remaining applications were sent letters of regret. Mr. Anand holding 4,000 shares failed to pay allotment money and his shares were forfeited. Out of these 3,000 shares were re-issued at a discount of ₹ 20 per share. Pass necessary entries in the books of the OTUA Ltd.

Posted by Aryan Verma 2 years, 6 months ago

CBSE > Class 12 > Accountancy

4 answers

Suraj Sah 2 years, 5 months ago

1) Bank To Sh. App 3400000 2) Sh App To Bank 400000 To Sh. Capital 2400,000 To Sh. Allotment 600,000 3)Sh Allotment 5100000 To Sh. Capital 3600000 To SPR 1500000 4) Bank 4200,000 C I Arrear 300000 To Sh. Allotment 4500,000 5) Sh. Capital 400,000 SPR 100,000 To Forfeited Sh. 200,000 To C.I.Arrear 300,000 6) Bank 240,000 Forfeited Sh. 60,000 To Sh. Capital 300,000 7) Forfeited sh. 90,000 To Capital Reserve 90000

Tamanna Lohia 2 years, 6 months ago

1) Bank To Sh. App 3400000 2) Sh App To Bank 400000 To Sh. Capital 2400,000 To Sh. Allotment 600,000 3)Sh Allotment 5100000 To Sh. Capital 3600000 To SPR 1500000 4) Bank 4200,000 C I Arrear 300000 To Sh. Allotment 4500,000 5) Sh. Capital 400,000 SPR 100,000 To Forfeited Sh. 200,000 To C.I.Arrear 300,000 6) Bank 240,000 Forfeited Sh. 60,000 To Sh. Capital 300,000 7) Forfeited sh. 90,000 To Capital Reserve 90,000

Shivam Kumar 2 years, 6 months ago

Ans

Udhay Kumar 2 years, 6 months ago

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