Question

mangalam ltd issued 20000 share to the public each of rs.100 payable as rs.20 on application rs.40 on allotment rs.30 1st call and rs.10 on 2nd and final call A share holder Xhold 1500share failed to pay first call money and another share holder Y holds 1000 share paid his 2nd call money with 1st call.Pass necessary journal entry in the book of company assumly the application money received for 10000 shares​

Answer 1

Answer:

Received application money on (200 + 100) shares @ 25 each=7,500Received allotment money on 100 shares @ 30 each=3,000Rs¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯10,500––––––––

(ii)~Calls-in-Arrear On Allotment=6,000 On First Call=7,500 On Final Call=6,000Rs¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯19,500––––––––