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

Scott manufacturing co.''s static budget at 10, Scott Manufacturing Co.'s s...

Scott Manufacturing Co.'s static budget at 10,000 units of production includes $40,000 for direct labor and $4,000 for electric power. Total fixed costs are $23,000. At 12,000 un

Bookkeeping, Under both GAAP and tax depreciation, an asset cannot be depre...

Under both GAAP and tax depreciation, an asset cannot be depreciation until it has been

In between fifo and lifo which one is the correct method, Q. In between FIF...

Q. In between FIFO and lifo which one is the correct method? The differences for the four methods take place because the company paid different prices for goods purchased. No d

Analysis on the organizational assessment study dataset, Complete a descrip...

Complete a descriptive analysis of the following data elements in the Organizational Assessment Study dataset. Use appropriate graphical tools and descriptive statistics to charact

Which of the following about debits and credits is false, Which of the foll...

Which of the following about debits and credits is false? A. Credits increase revenues, gains and bonds payable B. Debits increase salaries expense and prepaid expenses (prepayment

What is the gross income from the distribution?, Zack is a farmer who buys ...

Zack is a farmer who buys his feed and fertilizer from a farmer cooperative. In 2012, Zack purchased $300,000 in feed and fertilizer for the farm and $10,000 of household goods. Be

Provision for bad debts, A business had always made a provision for doubtfu...

A business had always made a provision for doubtful debts at the rate of 5% of debtors. On 1 January 2017 the provision for doubtful debts brought forward from the previous year wa

Explain about depreciation, Q. Explain about Depreciation? Depreciation...

Q. Explain about Depreciation? Depreciation Just as prepaid rent and prepaid insurance indicate a gradual using up of a previously recorded asset thus does depreciation. But th

Show types of activities performed by business organizations, Q. Show types...

Q. Show types of activities performed by business organizations? The forms of business unit examined in the previous section are classified according to the type of ownership o

Write Your Message!

Captcha
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!

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