22. Swadeshi Limited invited applications for issuing 60,000 shares of Rs. 10 each at par The amount was payable as follows On application Rs. 2 per share on allotment Rs. 3 per share on first and final call Rs. 5 per share. Applications were received for 92,000 shares. Allotment was made on the following basis (a) To applicants for 40.000 shares Full (b) To applicants for 50.000 shares: 40% (c) To applicants for 2.000 shares Nil
Answers
Answered by
6
Applications were received for 4,00,000 shares and pro-rata allotment was
made to all the applicants. The excess application money was adjusted towards
allotment. Mukesh who was allotted 800 shares failed to pay both the calls and
his shares were forfeited after the second call. Record necessary journal entries
in the books of Ashok Limited and also show the balance sheet:
Hope it's help ❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️❤️
Similar questions