share capital journal entry

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2010 i want journal entry for the following question

varun ltd was registered with the nominal capital of rs 2000000 in equity shares of rs 100 each 10000 of these shares were issued to the public at a premium of rs 20 per share payable as to :
rs 20 on application
rs 45 on allotment including premium
rs 25 on first call
the balance on final call
application were recieved for 13000 shares and allotment was made pro rata basis to the applicant of 12000 shares
money overpaid on application was employed on account of sums due on allotment
sudhir holding 200 shares paid whole of the amount due on first call along with the allotment but failed to pay final call.
pradeep holding 300 shares failed to pay the two calls
joshi holding 400 shares failed to pay the final call.

all these shares were forfeited after the final call
of these forfeited shares 200 shares belonging to pradeep and 200 shares belonging to joshi were sold to rajesh as fully paid to rs 90 per shares

journalise the above entries

pls help......

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
Follow

11 January 2010 It is question of 10+2 accounts book.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2010 well this also happens to be a question in cs executive model test paper

i just want the answer as i m from non commerce background and is residing in remote place where there is no coaching i jes want to submit my test papers

i m not interested weather the ques is in 12 class book or in 5 th classs i

f u have answerkindly guide which is basis of this site otherwise let other expert do there job

anyways thnks

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now