Question

A Ltd.,issued 20000 equlity shares of ₹10 payable as to ₹4 on application,₹3 on allotment and the balance ₹3 first and final call. All the money was duty received. Record the transaction in the journal of the company​

Answer 1

Answer:

First Call Money Received

First call money due = 80,000

(-) Calls in arrear (300×4) = 1,200

First Call Money Received

78,800

second.

First Call Money Received

Final call money due = 20,000

(-) Calls in arrears (300×1) = 300

Final Call Money Received

19,700

Answer 2

Answer:

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