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Assignment-Issue of Share

Assignment

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monudhama925
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37 views

Assignment-Issue of Share

Assignment

Uploaded by

monudhama925
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Assignment

1.On 28th February, 2016 the first call of? 2 per share became due on 50,000 equity shares alloted by
Kumar Ltd. Komal a holder of 1,000 shares did not pay the first call money. Kovil a holder of 750 shares
paid the second and final call of 4 per share alongwith the first call. Pass the necessary journal entry for
the amount received by opening calls-in-arrears and calls-in- advance account in the books of the
company.

2 Nirman Ltd issued 50,000 equity shares of 10 each. The amount was payable as follows

On application: 3 per share

On allotment: 2 per share

On first and final call: Balance

Applications for 45,000 shares were received and shares were allotted to all the applicants, Pooja, to
whom 500 shares were allotted, paid her entire share money at the time of allotment, whereas Kundan
did not pay the first and final call on his 300 shares. What amount will be received at the time of making
the first and final call?

3. Joy Ltd issued 1,00,000 equity shares of 10 each. The amount was payable as follows

On application: 3 per share

On allotment: 4 per share

On first and final call: Balance

Applications for 95,000 shares were received and shares were allotted to all the applicants. Sonam, to
whom 500 shares were allotted, failed to pay the allotment money and Gautam paid his entire amount
due including the amount due on first and final call on the 750 shares allotted to him along with
allotment. What amount will be received at the time of allotment?

4.Annex Ltd. issued 1,00,000 shares of₹ 10 each at a premium of 10% to the public for subscription. The
whole amount was payable on application. Applications were received for 3,00,000 shares and the
board decided to allot shares to all shareholders on pro-rata basis.

Pass necessary journal entries for the above transactions in the books of Annex Ltd.

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