Accountancy, asked by sgokuahulrai6742, 11 months ago

X Ltd. was incorporated with a capital of ₹ 2,00,000 divided into shares of ₹ 10 each. 2,000 shares were offered to the public and out of these 1,800 shares were applied for and allotted ₹ 3 per share (including ₹ 1 premium) was payable on application, ₹ 4 per share (including ₹ 1 premium) on allotment, ₹ 2 per share on first call and ₹ 3 per share on final call. All the money was received. Give necessary journal entries and the Balance Sheet.

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Answered by anamkhurshid29

HEYA MATE YOUR ANSWER IS

payable on application, ₹ 4 per share (including ₹ 1 premium) on allotment, ₹ 2 per share on first call and ₹ 3 per share on final call. All the money was received. Give necessary journal entries and the Balance Sheet.

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Answered by kingofself

Calculation of share capital:

Application Rs 3

Allotment Rs 4

First call Rs 2

Second call Rs 3

Total Rs 12

Total = 10 ( face value) +2 ( premium) = 12

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