Calls-in-arrears and Calls-in-advance
0. Duttsons Ltd. registered with a nominal capital of 5,00,000 in shares of 100 each. 3,000
shares of which were issued payable as to 12.50 on application, 12.50 on allotment, 25
three months after allotment and the balance to be called-up as and when required. All
moneys upto allotment were duly recorded but as regards the call of 25, a shareholder
holding 100 shares did not pay the amount due. Another shareholder who was allotted 150
shares paid them in full. Show the necessary entries to record the above transactions
(including cash) and show how the capital should appear in the Balance Sheet.
[Ans. Calls-in-arrears 2,500; Calls-in-advance * 7,500; B/S Total * 1,55,000]
Answers
Answered by
2
Answer:
2.13 The Bank column showed a debit balance of Rs. 2000
on 31st March 2016. On reconciling the following facts
were noticed :
4
1.
Cheque Rs. 500 deposited into the bank was
not collected & credited till 31st March.
2.
Cheque issued for Rs. 300 was not presented
to the bank for payment till 31-3 - 16.
3.
Interest credited by bank 30 Rs.
Answered by
2
Answer:
2.13 The Bank column showed a debit balance of Rs. 2000
on 31st March 2016. On reconciling the following facts
were noticed :
4
1.
Cheque Rs. 500 deposited into the bank was
not collected & credited till 31st March.
2.
Cheque issued for Rs. 300 was not presented
to the bank for payment till 31-3 - 16.
3.
Interest credited by bank 30 Rs.
Similar questions