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Record the information in company books

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Reference no: EM132613523

A limited company was registered with an authorized capital of Rs.500,000 divided into 10,000 ordinary shares of Rs.50 each. On 1st November 1994 Company offered 7000 shares in the following manner:

  • 1000 shares to promoters against preliminary expenses
  • 2000 shares to directors for cash
  • 4000 shares to general public.

On 15th November 1994, company received applications for 6000 shares. Shares were not allotted to applicants of 2000 shares and their application money was refunded.

Question 1: Record the above information in company's books and show the figures in balance sheet.

Reference no: EM132613523

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