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 terms assets and liabilities, Two friends, Joe and Bill, both h...

Two friends, Joe and Bill, both have carpentry skills and decide to go into business as partners together ?tting kitchen cabinets. Joe's uncle has agreed to provide £20,000 of capi

Explain about the management accounting, Explain about the Management accou...

Explain about the Management accounting Management accounting has also changed by becoming more outward looking in its focus. In past, information provided to managers has bee

Generate the cash flow of companies, Rondo plc, a sports apparel manufactur...

Rondo plc, a sports apparel manufacturer with a cost of capital of 13.75%, is looking to expand its activity and is considering two possible countries to open a sales subsidiary. R

Explain about the recording purchases, Explain about the RECORDING PURCHASE...

Explain about the RECORDING PURCHASES Source document for recording a purchase of merchandise is purchase invoice. o An instance of a transaction of purchasing merchandise

Scope of accounting, The range of accounting can be presented in a diagramm...

The range of accounting can be presented in a diagrammatic form. Data collection and creation is the area that provides raw material for accounting. The data collecte

Jane and walt form orange corporation., Jane and Walt form Orange Corporati...

Jane and Walt form Orange Corporation. Jane transfers equipment worth $475,000 (basis of $100,000) and cash of $25,000 to Orange Corporation for 50% of its stock. Walt transfers

Altona company, The balance sheet account as of July 31, 1995 for altona co...

The balance sheet account as of July 31, 1995 for altona company are as follows: Capital: (fix lib) 35,630 Office Equipment (ass) 16730 Delivery Truck

T-accounts general ledger, trying to put the numbers into the correct asset...

trying to put the numbers into the correct asset t-account and not adding up

When a not-for-profit facility receives a contribution from, When a not-for...

When a not-for-profit facility receives a contribution from a member of the community, the cost of the capital is inconsequential when deciding how to use the contribution, becau

What do you mean by contingent liabilities, Q. What do you mean by Continge...

Q. What do you mean by Contingent liabilities? Contingent liabilities -- liabilities which are not recorded on a company's financial reports though whichmight become due. If a

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