Pls......help me

anuj jain (no) (161 Points)

11 September 2011  

Que.1   What is the nature of " INTEREST ON CALLS IN ADVANCE A/C"  and "INTEREST ON CALLS IN ARREAR A/C" ? Whether they are of revenue expenditure or capital expenditure.......Pls. tell me the logic behind the answer..........

Que.2   When we receive FIRST CALL A/C and FIANL CALL A/C  balance along with application money than why should we give INTEREST ON CALL IN ADVANCE from the allotment date? According to me it should be given from the date of receiving of application money..........

Que.3   What is the nature of share issue expenses? Whether they are capital nature or defferes revenue nature expenses?

Que.4  When the company forfeit the shares than the amount forfeited is credited to share forfeiture a/c ........My question is that why do we add it to the paid up capital of the company while preparing balance sheet as per shedule vi........According to me it should not be the part of share capital of the company........

Que.5 In xii class books it is given that the date of entry of allotment amount due and date of receiving allotment money is same. How is it possible as the allotment amount due entry is donw when the allotment letters are sent to shareholders and after that they sent us allotment amount. The 2 dates i.e date of due of allotment amount and date of receiving it should be different