Question

7. Y Ltd. was formed with an authorised capital of 40,00,000 divided into 3,00,000 equity
shares of 10 each and 10,000 Preference shares of 100 each. Both classes of shares were
bissued to the public in full and they are to be paid as follows:
Equity shares
Preference shares
Application
20 percent
25 percent
Allotment
30 percent
25 percent
First call
50 percent
25 percent
Second call
25 percent
All the calls were made and in due course the money were received in full. Give the
necessary journal entries and prepare Cash Book.​



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Answer 1

Answer:

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Answer 2

Answer:

Explanation:

40,00,000