Question

(Calls in Arrear and Calls in Idvance)
A Ltd issued 20.0000 equity shares of? 10 each at a premium of 10% payable 2 on
Application: 4 on Allotment Including premium): 73 on first call and 2 on Final Call. All
the shares were duly subscribed allotted and both the calls were made.
A holder of 400 shares did not pay final call while another holder of 500 shares paid the
entire sum due on allotment
Pasa journal entries and prepare Balance Sheet.​

Answer 1

Answer:

(Calls in Arrear and Calls in Idvance)

A Ltd issued 20.0000 equity shares of? 10 each at a premium of 10% payable 2 on

Application: 4 on Allotment Including premium): 73 on first call and 2 on Final Call. All

the shares were duly subscribed allotted and both the calls were made.

A holder of 400 shares did not pay final call while another holder of 500 shares paid the

entire sum due on allotment

Pasa journal entries and prepare Balance Sheet.