Question

749
UNTING FOR SHARE CAPITAL
Reckit Ltd. has an authorised capital of 1,20,000 shares of 3 10 each. Of these, 12,000 shares were
issued to vendors as fully paid in exchange for purchase of plant and machinery and 8,000 shares
were issued to promoters as fully paid. Further, the company offered 80,000 shares to public and
amount payable during the first year was 4 on application, * 2 on allotment & 1 on first call.
Pass journal entries & prepare balance sheet of the company.
[Ans. Balance Sheet total 7.60,000)
n. 1 dinsided into 40 000 shares of 10 each.​

Answer 1

Answer:

Balance Sheet total 7.60,000)