Question

1.
Telco Itd. issued 10,000 shares o Rs. 100 each at a premium of Rs. 10 each payable as
llows:
Rs. 50 on application, Rs. 35 on allotment (including premium), and balance on final call.
Application were received for 16,500 shares of which 4,000 shares were rejected and
allotment was made on pro-rata basis to the remaining applicants.
Ankur who had applied for 250 shares failed to pay the amount due on allotment and call.
Company forfeited his shares. Later on out of the forfeited shares, company reissued 100
shares at Rs. 105 fully paid. Pass journal entry in the books of Telco ltd.
8​

Answer 1

Answer:

remaining applicants.

Ankur who had applied for 250 shares failed to pay the amount due on allotment and call.

Company

Explanation:

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