Question

9. X Limited is registered with a capital of 20 lakhs divided into 20,000 equity shares of ? 100 each
On 1st April, 2019 it allotted 2,000 shares fully paid at a premium of 20 per share to Shri Ram
Prakash for a building purchased from him. On the same date 10,000 equity shares were offered to the
public for subscription at a premium of 20 per cent. The amount was payable as follows:
Date of call
Due Date
Amount called
1.4.2019 (Application) 15.4.2019 10% of the issue price 247
15.5.2019 (Allotment)
15.6.2019 50% of the issue price (including premium)
1.8.2019 (First call)
1.9.2019
30% of the issue price
1.10.2019 (Second call) 1.11.2019 Remaining amount of issue price
The application were received for 16,000 shares. Applicants for 1,000 shares were refused allotment
and the remaining applicants were allotted shares pro-rata. Mohan, who holds 200 equity shares
failed to pay the allotment and the subsequent call and his shares were forfeited were on 21 September,
2019. Sohan who holds 100 shares failed to pay the first and second call and his shares were forfeited
on 1st January, 2020. Half of the shares held by Mohan were re-issued to Rahim on 1 February, 2020 at a premium
of 10 per cent and his remaining shares to ravindra at rs. 95 per share deemed as fully paid up on 1 march 2020.
Give journal and cash book entries relating to the above issue. also show the capital and reserves and surplus items in the balance sheet of the company as on 31st March 2020 ​

Answer 1

Answer:

Friction is the force resisting the relative motion of solid surfaces, fluid layers, and material elements sliding against each other. There are several types of friction: Dry friction is a force that opposes the relative lateral motion of two solid surfaces in contact.