Record the information in company books

Assignment Help Financial Accounting
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

Questions Cloud

What possible reasons could angelcare management provide : What possible reasons could AngelCare management provide to their shareholders to motivate their interest in acquiring Siyenza?
Find present value of preference share : Market expectation is 14% from this preference share. What would be the present value of this preference share?
Describe the use of computer technology : The day has come for the patient to see the nurse practitioner prior to his trip abroad. By having a "pretravel assessment at least 6 weeks before departure.
Define what is meant by budgeting : Define what is meant by Budgeting & Forecast. Provide its example. What do useful assumptions identify and what does that dictate?
Record the information in company books : Record the information in company's books and show the figures in balance sheet. 1000 shares to promoters against preliminary expenses
Computes forecast as average of demands : Moving averages: A forecasting model that computes a forecast as the average of demands over a number of immediate past periods.
Describe the four stages of labor with phases : The four stages of labor with phases of each; include durations, descriptions, physical changes; nursing care in each. Create a teaching brochure on assigned.
Explain the principal ethical requirements associated : Explain the principal ethical requirements associated with budgetary forecasting and projections. If necessary conduct independent research.
Estimate the return on equity of mayou plc in each state : Estimate the return on equity of Mayou plc in each state under the original capital structure and the capital structure including debt.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Crane mechanics acquired 75 percent of downey enterprises

crane mechanics acquired 75 percent of downey enterprises on march 31 2005 for 3645000.downeys book value at that date

  Evaluate the monthly margin of safety in dollars

Evaluate the monthly margin of safety in dollars if the business achieves it's operating income goal?

  What is the present value

what is the present value? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

  Purchased a machine on january

Alpha Co. purchased a machine on January 1, 2017, for $60,000. The machine was estimated to have a service life of ten years with an estimated residual

  Prepare the statement of owners equity

Prepare the statement of owner's equity. Prepare an income statement. Prepare a balance sheet. Lu Chang opened Chang Catering on May 1, 20X3.

  Prepare the intercompany profits gains and losses schedule

Prepare the intercompany profits, gains and losses schedule. Prepare paper eliminating journal entries for the inter-company sale of the machinery in Year 6.

  Explain your analysis and understanding of social accounting

Details: You are meeting with accounting department personnel to make sure they understand the importance of corporate social responsibility and how it affects the company and their specific jobs.

  Colorado business tools manufactures calculators

Colorado Business Tools, manufactures calculators.

  Average number of shares calculated in accordance

What is the weighted-average number of shares calculated in accordance with AASB 133?

  Developed unpatented technology appraised

Current assets $ 111,000 Buildings & equipment (net) 239,500 Total assets $ 350,500 Liabilities $ 67,500 Common stock 150,000 Retained earnings 133,000 Total liabilities and equities $ 350,500 On May 1, Donovan holds a building with a fair value $34,..

  Determine the investment’s net present value

Determine the investment’s net present value, the internal rate of return and payback period. All key assumptions should be specified and explained.

  Create the tax-related journal entries

Create the tax-related journal entries for 2019 to 2023. Brock Corp. believes that it will be able to use any loss carryforward in future years.

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