Accountancy, asked by pratiksaha91, 7 months ago

On 1st April, 2019, Ambuja Ltd. issued 30,000 equity shares of 10 each payable as : 2 on application,
3 on allotment and 5 on first and final call four months after allotment.
Applications were received for 36,000 shares and the directors returned 12,000 to the applicants for
6 shares
One shareholder failed to pay allotment money on 900 shares. Later on he paid it at the time of first and
final call. The directors charged interest @ 5% per annum on calls-in-arrear according to the provisions
of Table A which was duly received.
Journalise the transactions in the books of the company.​

Answers

Answered by duvishnupriya717
0

Note No.

Amount

(Rs)

I. Equity and Liabilities

1. Shareholders’ Funds

a. Share Capital

1

44,99,000

2. Non-Current Liabilities

3. Current Liabilities

Total

44,99,000

II. Assets

1. Non-Current Assets

2. Current Assets

a. Cash and Cash Equivalents

2

44,99,000

Total

44,99,000

NOTES TO ACCOUNTS

Note No.

Particulars

Amount

(Rs)

1

Share Capital

Authorised Share Capital

5,00,000 equity shares of Rs 10 each

50,00,000

Issued Share Capital

5,00,000 equity shares of Rs 10 each

50,00,000

Subscribed, Called-up and Paid-up Share Capital

4,50,000 equity shares of Rs 10 each

45,00,000

Less: Calls in Arrears (500 shares × Rs 2)

(1,000)

44,99,000

2

Cash and Cash Equivalents

Cash at Bank

44,99,000

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