Question

Black &white company invited application for 10000 share of 100 each payable as follows: on application 20% on allotment 30%on first call 40 % on final call 10 % application were received for 12000 share. The application for 8000 share were alloted all the share applied for. One applicant who had applied for 4000 share was, however ,alloted only 2000 share and the excess application money was retained for adjustments on allotment due. All the call were made and money realised except the final call money on 600 share. Pass the necessary journal entries in the book of the company. Analysis table ke sath .

Answer 1

Answer:

Minimum requirement of a public company is seven person. As per the Section 3 (1) (iv) of Companies Act 1956,