34. Manoj Co. of Indore issued 500 equity shares at the rate of 100 each on
following terms :
On application 30, on allotment * 30, on first call * 20 and on second and fin
call for 20 only. All money was received except in case of a shareholder Mi
Deepak, who took ten shares but failed to pay the both calls. His shares war
forfeited. Pass the journal entries in the books of company.
[Ans: Amount of Forfeiture a/c 600]
Answers
Answered by
4
Answer:
bank... Dr. 15,000
to share app 15,000
share app 15,000
to share capital 15,000
share all 15,000
to share capital 15,000
bank 15,000
to share all 15,000
share first call 10,000
to share capital 10,000
bank 9800
calls in arrears 200
to share first call 10,000
share final call 10,000
to share capital 10,000
bank 9800
calls in arrears 200
to share final call 10,000
share capital (10×100) 1000
to share forfeiture (6×100) 600
to calls in arrears (4×100) 400
Similar questions