Question

6. A company offered 1,000 equity shares of 3 100 each to the public. The amount was payable as follows:
(a) * 50 on application (including 10 premium);
(b) * 30 on allotment; and
(c) * 30 on call.
Applications were received for 3,000 shares. Applicants for 1,000 shares were not given any allotment
and their application monies were refunded. Rest of the applicants were given pro-rata allotment. As
per terms of issue mentioned in prospectus the cash received after satisfying application money was
retained to adjust in allotment and call monies. x to whom 100 shares were allotted did not pay any money except that with his application the issue was completed and all other applicants are paid their amounts as and when due shares of X were forfeited and reissued to Y at rs 50 each as fully paid up. ​

Answer 1

Answer: 2018 Book of Class 12 Commerce Accountancy Chapter 17 are provided ... (Share application money received for 2,50,000 equity shares of Rs 10 each) ... XYZ Ltd. invited applications for 10,000 shares of ₹ 100 each payable as follows: ... Share Second Call. 1,000. Share Final Call. 2,000. Balance c/d. 3,000. 3,000.

Explanation:

Answer 2

Answer:

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