Question

Mona Earth Mover Limited decided to issuse 12,000 shares of Rs. 100 each payable at Rs.30 on application, Rs.40 on allotment, Rs.20 on first call and balance on second and final call. Applications were received for 13,000 shares. The directors decided to reject application of 1,000 shares and their application money being refunded in full. The allotment money was duly received on all the shares, and all sums due on calls are received except on 100 shares.
Record the transactions in the books of Mona Earth Moves Limited

Answer 1

Answer:

Mona Earth Mover Limited decided to issuse 12,000 shares of Rs. 100 each payable at Rs.30 on application, Rs.40 on allotment, Rs.20 on first call and balance on second and final call. Applications were received for 13,000 shares. The directors decided to reject application of 1,000 shares and their application money being refunded in full. The allotment money was duly received on all the shares, and all sums due on calls are received except on 100 shares.

Record the transactions in the books of Mona Earth Moves Limited

Explanation:

..