Question

18
9. Modern Marbles Ltd. was registered with an authorised capital of 10,00,UUU UIVIULU INTL
Shares of 100 each and 2,500 Preference Shares of 100 each. 1,000 Equity Shares and 500;9% Preference
Shares were offered to public on the following terms-Equity Shares payable < 10 on application, 40 on
allotment and the balance in two calls of 25 each. Preference Shares are payable25 on application, 25
on allotment and 50 on first and final call. All the shares were applied for and allotted. Amount due was
duly received. Prepare Cash Book and pass necessary Journal entries to record the above issue of shares
and show how the Share Capital wi'l appear in the Balance Sheet.Modern Marbles Ltd. was registered with an authorised capital of 10,00,UUU UIVIULU INTL
Shares of 100 each and 2,500 Preference Shares of 100 each. 1,000 Equity Shares and 500;9% Preference
Shares were offered to public on the following terms-Equity Shares payable < 10 on application, 40 on
allotment and the balance in two calls of 25 each. Preference Shares are payable25 on application, 25
on allotment and 50 on first and final call. All the shares were applied for and allotted. Amount due was
duly received. Prepare Cash Book and pass necessary Journal entries to record the above issue of shares
and show how the Share Capital wi'l appear in the Balance Sheet.​

Answer 1

Explanation:

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