Accountancy, asked by harshelbehl, 1 year ago

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 manoharsetty
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 sharmasuj541
0

Answer:

please ask me for any solution

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