Accountancy, asked by saikumar1966, 10 months ago

Vitex Exports Ltd. registered with a share capital of 10,00.000 divided into 20,000 shares of
50 each, offers the shares to the public as under:
110 per share payable on application; * 10 per share payable on allotment; 15 per share payable
on the first call; and 15 per share payable on the second and final call.
Shareholder 'Amar' who holds 300 shares has paid only the application money.
Shareholder Basu' who holds 200 shares has paid the application money on 200 shares and the
allotment money on only 100 shares. He has not paid any other calls.
Shareholder 'Chaman' who holds 180 shares has paid only the application and allotment money.
Shareholder Deepa' who holds 50 shares has paid the application, the allotment and the first call money.
Shareholder Farooq' who holds 30 shares has paid the application, the allotment and the first call
money in full and the second and final call money on only 20 shares.
The company forfeits the shares of the above shareholders who have not paid the arrears.
Journalise the above transactions including entries relating to Bank in the books of Wintex Exports Ltd.​

Answers

Answered by yasaswi797
0

Answer:yes

Explanation:

Share capital account (760*50) 38000₹

To Amars forfeited shares (300*10) 3000₹

To allotment, first and second call (300*15+15+10) 12000₹

To Basu forfeited shares (200*10+100*10) 3000₹

To allotment, first and final call (100*10+200*30) 7000₹

To Chapman’s forfeited shares (180*20) 3600₹

To first and second call (180*30) 5400₹

To Deepa forfeited shares (50*10+50*10+50*15) 1750₹

To second call (50*15) 750₹

To Farooq forfeited shares (30*35+20*15) 1350

To second call (10*15) 150₹

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