Accounts help
This query is : Resolved
20 November 2008
Hi
Please help me to solve this question.
D. Ltd. issued 2,00,000 shares of Rs. 100 each at a premium of Rs. 20 per share payable as follows:
On application : Rs. 20
On allotment : Rs. 50 ( including premium )
On first call : Rs. 30
On second and final call : Rs. 20
Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on aplication was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were alloted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E's forfeited shares being reissued.
Q Application money adjusted against allotment = ?
Q Net balance in Share Capital account = ?
Q Net balance in Securities Premium account =?
Q Net balance in Share Forfeited Account = ?
Q Net balance in Capital Reserve Account = ?
Please help me to solve this question.
D. Ltd. issued 2,00,000 shares of Rs. 100 each at a premium of Rs. 20 per share payable as follows:
On application : Rs. 20
On allotment : Rs. 50 ( including premium )
On first call : Rs. 30
On second and final call : Rs. 20
Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on aplication was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were alloted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E's forfeited shares being reissued.
Q Application money adjusted against allotment = ?
Q Net balance in Share Capital account = ?
Q Net balance in Securities Premium account =?
Q Net balance in Share Forfeited Account = ?
Q Net balance in Capital Reserve Account = ?
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