Fast Food Ltd. issued a prospectus offering 10,000 equity shares of Rs. 50 each at par payable as follows :
On Application 15
On Allotment 10
On First Call 15
On Final call 10
Ram, the holder of 500 equity shares did not pay the amount due on both the calls. These 500 shares were forfeited by the Board of Directors and 300 of these shares were subsequently re-issued at Rs. 55 per share.
Show the entries in the Cash Book and Journal of the Company
Answers
Answered by
40
Answer:
bank a/c Dr 1,50,000
to share application a/c 1,50,000
share application a/c Dr 1,50,000
to share capital a/c 1,50,000
share allotment a/c Dr 1,00,000
to share capital a/c 1,00,000
bank a/c Dr 1,00,000
to share allotment a/c 1,00,000
share 1st call a/c Dr 1,50,000
to share capital a/c 1,50,000
bank a/c Dr 1,42,500
to share 1st call a/c 1,42,500
share 2nd call a/c Dr 1,00,000
to share capital a/c 1,00,000
bank a/c Dr 95,000
to share capital a/c 95,000
share capital a/c Dr 25,000
to share forfeiture a/c 12,500
to share 1st call 7,500
to share 2nd call 5,000
bank a/c Dr 16,500
to share capital 15,000
to SPR a/c 1,500
share forfeiture a/c Dr 7,500
to Capital reserve a/c 7,500
( 12,500 ÷ 500 × 300 = 7,500 )
Answered by
0
Answer:
please ask me for any solution
Attachments:
Similar questions