“Neither is there a situation of absolute necessity nor is there a condition of absolute freedom”. Explain the
statement by giving any three suitable examples.
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Explanation:
(Both Classes of Shares/Cash Book) Y Ltd. was formed with an authorised capital
* 40,00.000 divided into 3,00,000 equity shares of 10 each and 10,000 Preference shares
* 100 each. Both classes of shares were issued to the public in full and they are to be pa
Preference shar
follows:
Equity shares
Application
20 percent
Allotment
30 percent
First call
50 percent
Second call
All the calls were made and in due course the money were received in full. Give
necessary journal entries and prepare Cash Book.
25 perc
25 perc
25 perc
25 perc
Or
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