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Shagoon ltd.issued 40,000 shares ₹10 each,₹12 …

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Shagoon ltd.issued 40,000 shares ₹10 each,₹12 each payable as under. On application-2,on allotment-5(including premium), on 1st call-2,on 2nd call-3 Applications received-60,000. Allotment on pro rata basis to appliacnts for 48,000 remaining application is being refused. Money overpaid on application was applied towards amount due on allotment . Amrit,to whom 1,600 shares were alloted,fail to pay allotment money. Barun, to whom 2,000 shares were alloted , fail to pay 2 calls. These shares were forfeited after 2nd and final call. Pass journal entries in books of shagoon ltd.

Posted by Aadya Agrawal 1 year ago

CBSE > Class 12 > Accountancy

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