Question

Siddhi Ltd. had an authorized share capital of 5, 00,000 divided into 50,000 equity shares of

10 each. It issued 40,000 shares to the public at a premium of 2. All the shares were subscribed and

amount was payable as follows:

Application 5

Allotment 5 (Including premium)

Final call 2.

Ram holding 500 shares did not paid any amount after application. His shares were forfeited after

final call and 400 shares from these were reissued to Shyam at 9 fully paid up.

Pass necessary journal entries in books of Siddhi Ltd. by opening call in arrear account.​

Answer 1

Answer:

500000+50000+40000=95000