Best Of luck for those whose result is tommorow....
v@m$h!
(CA - Final and CS - Final)
(1473 Points)
Replied 24 February 2011
Waiting for that. ALL THE BEST 4 all.
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
CAclubindia
