Question

Reema ltd issue 20000 shares of rs 10 each at aprimium of rs 2 per share payable as follows rs 3 on application , rs 3 on allotment, balance on first and final call state the amount by which first and final call should be made due

Answer 1

Explanation:

1.bank account dr. 60000

to share application account. 60000

2. share application account 60000

to share capital account. 60000

3.share allotment account dr. 100000

to share capital account. 100000

to security premium acc. 100000

4. bank account dr. 100000

to share allotment acc. 100000

5.first and final call account dr.100000

to share capital account 100000

6. bank account dr. 100000

to share first and final call account 100000