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

Cash dividends across two accounting cycles, Recording and reporting stock ...

Recording and reporting stock transactions and cash dividends across two accounting cycles Davis Corporation was authorized to issue 100,000 shares of $10 par common stock and 5

Sap memory and abap memory, Difference between SAP MEMORY and ABAP MEMORY? ...

Difference between SAP MEMORY and ABAP MEMORY?  Ans) SAP Memory: Global, user-related memory that enlarges beyond transaction limits. Access to the SAP memory is through SPA/GPA

Cash $10, Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400...

Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-term Debt $36,000 Building $150,000 Notes Payable $9,000 Equip

Draw a stem-and-leaf plot for the data set, Draw a stem-and-leaf plot for t...

Draw a stem-and-leaf plot for the data set. (Enter numbers from smallest to largest separated by spaces. Enter NONE for stems with no values.) Data set A: The annual wages of emp

Define gains and losses, Q. Define Gains and Losses? Gains are raise in...

Q. Define Gains and Losses? Gains are raise in equity net assets from peripheral or incidental transactions of an entity as well as from all other transactions and other events

MRSRAMOS, I AM HAVING DIFFICULTIES SOLVING ONE PARTICULAR ACCOUNTING PROBLE...

I AM HAVING DIFFICULTIES SOLVING ONE PARTICULAR ACCOUNTING PROBLEM

The classified balance sheet, Dunmore Coal and Iron purchased $1,000,000 in...

Dunmore Coal and Iron purchased $1,000,000 in corporate bonds and 500,000 shares of common stock in its competitor, Olyphant Iron. Dunmore plans to hold onto the bonds until the ma

Illustrate the structure of brain, Illustrate the structure of brain Br...

Illustrate the structure of brain Brain is capable of changing its structure in numerous ways. Synapses become stronger and denser. Tiny blood vessels increase in size and numb

Classify the following items as, Classify the following items as (a) defer...

Classify the following items as (a) deferred expense (prepaid expense), (b) deferred revenue (unearned revenue), (c) accrued expense (accrued liability), or (d) accrued reven

A(n) _______ loss occurs when the reduced price, A(n) _______ loss occurs w...

A(n) _______ loss occurs when the reduced price is below the actual cost. A. net B. operating C. absolute D. incurred

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