Question

(Both Classes of Shares/Cash Book) Y Ltd. was formed with an authorised capital
* 40,00.000 divided into 3,00,000 equity shares of 10 each and 10,000 Preference shares
* 100 each. Both classes of shares were issued to the public in full and they are to be pa
Preference shar
follows:
Equity shares
Application
20 percent
Allotment
30 percent
First call
50 percent
Second call
All the calls were made and in due course the money were received in full. Give
necessary journal entries and prepare Cash Book.
25 perc
25 perc
25 perc
25 perc
​

Answer 1

Explanation:

(Both Classes of Shares/Cash Book) Y Ltd. was formed with an authorised capital

* 40,00.000 divided into 3,00,000 equity shares of 10 each and 10,000 Preference shares

* 100 each. Both classes of shares were issued to the public in full and they are to be pa

Preference shar

follows:

Equity shares

Application

20 percent

Allotment

30 percent

First call

50 percent

Second call

All the calls were made and in due course the money were received in full. Give

necessary journal entries and prepare Cash Book.

25 perc

25 perc

25 perc

25 perc