Question

1. Enter the following transactions in the ledger of Mr. Suresh and prepare a Trial Balance
2020
45,000
25,000
10,500
12.000
700
Jan. 1 Started business with cash
Jan. 3 Bought goods for cash
Jan. 5 Sold goods for cash
Jan. 7 Bought goods for cash
Jan. 10 Paid Wages
Jan. 13 Sold goods for cash
Jan. 15 Sold goods to Rashmeet
Jan. 16 Bought goods on credit from Mukesh
Jan. 18 Returned goods to Mukesh worth
Jan. 21 Sold goods for cash
Jan. 23 Paid electricity bill
5.000
1,500
7,500
800
3,500
500
SOR 31st January, 2020 (Without GST)​

Answer 1

Answer:

17. Doller Ltd. Issued a prospectus inviting application for 1,00,000 shares of 3 10 each 32 on application: 5

4 on allotment; 4 on First and Final Call. Application were received for 1,20,000 shares. Allotment Was

made as under:

a. To applicants for 20,000 shares → in full.

b. To applicants for 40,000 shares → 30,000 shares.

c. To applicants for 60,000 shares → 50,000 shares.

The shares were fully called and paid up except amounts on allotment and call, not paid by those

who applied for 2,000 shares out of the group applying for 40,000 shares. These shares were forfeited by the

directors and 1,200 shares of them were re-issued @ 57 per share. Show the Journal entries in the books of

the company

(8)