issue,forfeiture and re-issue of forfeited shares, Accounting Basics

issue,forfeiture and re-issue of forfeited shares, Accounting Basics

Assignment Help:

on 1 april,2007,X Ltd. makes an issu of 10,00,000 equity shares of rs.10 each payable as follows: on application-rs.3;allotment-rs.5;on first call rs.2(3 month after allotment). application were received for 13,00,000 share and directors made allotment in full to the applicants demanding 100 or more share and returned money to the applicants for 3,00,000 share. one shareholder who was alloted 200 share paid first call with allotment money and another shareholder who was alloted 300 shares did not pay allotment money on his shares, but which he paid with the first call. director have dicided to charge and allow interestas the case may be, on calls-in-arrears and calls-in-advance respectively accoeding to the provisionof Table A. give the necessary journl entries in the books of the company.

Related Discussions:- issue,forfeiture and re-issue of forfeited shares

Explain the meaning of payroll deductions, Explain the meaning of Payroll D...

Explain the meaning of Payroll Deductions There are numerous deductions taken from an employee's earnings. These are deducted by employer before employee receives a check. D

What are the ratio trends, Profitability refers to a company's ability to o...

Profitability refers to a company's ability to obtain profits and positive cash flows and to its ability to obtain an adequate return on invested capital or a company's ability to

Prepare a schedule of depreciation expense for an equipment, 1. Mama's Frie...

1. Mama's Fried Chicken bought equipment on January 2, 2010, for $15,000. The equipment was expected to remain in service 4 years and to perform 3,000 fry jobs. At the end of the

What is accrual basis of accounting, Q. What is accrual basis of accounting...

Q. What is accrual basis of accounting? In the following illustration, notice that every business transaction affects two or more accounts in the ledger. As well note that

Acme inc. has total liabilities of $120, Acme Inc. has total liabilities of...

Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity rat

Are mailing lists is prepaid or period expense?, Are mailing lists are cons...

Are mailing lists are considered as prepaid or period expens?

Suppose you want to have $5, Suppose you want to have $5,000 saved at the e...

Suppose you want to have $5,000 saved at the end of five years. The bank will pay you 2% interest on your money. How much would you have to deposit today to have the $5,000 you w

Survey of accounting issues, Required: Record the following transaction on...

Required: Record the following transaction on the spreadsheet, total each column a. Issued 100 shares of common stock for $12 per share, par=$1, on Jan 15, 2011. b. On Feb. 5 pu

Calculate the total cost and transportation costs, Buyer's Direct Mills (BD...

Buyer's Direct Mills (BDM) Inc. is a century old textile company that takes raw cotton and spins it into cotton yarn. This yarn is in turn purchased by weaving companies which prod

Discount period for purchase, Verify the amount to be paid within the disco...

Verify the amount to be paid within the discount period for purchase with an invoice price of $7,745, subject to credit terms of 2/10, n/30.

Write Your Message!

Name

Email id

Message

Verfication Code

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd