Question

Share
F
10 each payable ay unul
First call * 3 per share, on Final call * 3 per share.
The entire issue was subscribed for and paid with the following exceptions;
(i) P, who was allotted 200 shares, failed to pay the money due on allotment and calls,
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(ii) Q, who held 150 shares, did not pay the first call and second call.
(iii) R, who held 50 shares, did not pay the amount on second call.
The Board of Directors passed a resolution forfeiting all the shares of P, Q and R. These
shares were subsequently re-issued as fully paid at a discount of 20%. Give Journal entire
:
to record transactions in books of C Ltd.
[Ans. Amount transferred to Capital Reserve 550.
PRORATA ALLOTMENT AND FORFEITURE
38. (Forfeiture/Reissue) Prince Industries Ltd. has an authorised capital of * 50,00.00
divided into 5,00,000 equity shares of 10 each. It invited applications for 1,00,000 shares ol
42.
10 each at a premium of 3 per share, payable as under
:-​

Answer 1

Answer:

Principal forms the head of the administrative team within a school and is responsible for overseeing the daily operations of the institution. They coordinate staff schedules, oversee the development of curriculum and enforce school policies relating to themes like discipline or safety.