MW Ltd. issued 50,000 equity shares of Rs 10 each at a 10% premium and 6,000 12% Preference Shares of Rs 100 each.
Amount payable is as follows:
Equity Shares
12% Preference Shares
On Application
3
30
On Allotment
4
30
On First Call
2
20
On Final Call
2
10
All the issued shares were subscribed and the amount due on the both the calls were received on the due course. Prepare the Cash Book and pass the necessary Journal entries to record the transactions.
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Equity shares
50000@10=500000
Add premium 5000
Total 550000
12%prefference share 6000*100 =600000
Total to pay 1150000₹
50000@10=500000
Add premium 5000
Total 550000
12%prefference share 6000*100 =600000
Total to pay 1150000₹
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