Question

Velco Ltd. issued 30,000 shares of 10 each payable as 3 Applications were received for 40,000 shares and a pro-rata allotment was made to all the applicants All money due were received except allotment and first call from Mohit who had applied 1otiduly shares. His shares were forfeited after first call, Subsequently, the second call was duly made a NEnal the forfeited shares were reissued for 9 fully paid. Pass the necessary

received. Thereafter, entries.

Solution:

journal

(CBSE Sample Paper 2015, Modified)

on application, 2 on allotment, 2​

Answer 1

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