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Riya Verma
Subject: Accountancy
, asked on 15/11/17
why do we debit vendor account when we issue shares without cash consideration?
Answer
1
Riya Verma
Subject: Accountancy
, asked on 11/11/17
In case if the comapny decides not to reissue the forfeited shares or issue it at par or premium then can the company transfer the forfeited amount directly to the capital reserve? Then how will it appear in the balance sheet?
Answer
1
Riya Verma
Subject: Accountancy
, asked on 11/11/17
After forfeiting the shares if we prepare balance sheet then after the reissue do we again prepare the balance sheet to show the changes?
Answer
1
Riya Verma
Subject: Accountancy
, asked on 11/11/17
Why share forfeiture amount is added in balance sheet?
Answer
1
Ipsita Chakravarty
Subject: Accountancy
, asked on 10/11/17
What entry to be passed or how can we treat when shares in purchase consideration comes in decimal.
Answer
1
Riya Verma
Subject: Accountancy
, asked on 9/11/17
What is the nature of share capital, share forfeiture , share allotment account and respective calls?
Answer
1
Deepanshu Arora
Subject: Accountancy
, asked on 7/11/17
Dear Experts , I always get confused while calculating the amount received on allotment when various other things are also given like some shareholder didn't pay the money , some paid the money in advance . what to do in such type of questions ?
Answer
1
Harsh
Subject: Accountancy
, asked on 27/10/17
Please show Pro-Rata allotment of the following question.
Answer
1
Tejasvita Goel
Subject: Accountancy
, asked on 26/10/17
can you explain 7 th enrty of question 84 , page 7.127 of ts grewal which has already been solved at your site
Answer
1
Arunima Jalali
Subject: Accountancy
, asked on 25/10/17
Solve this:
Answer
1
Tejasvita Goel
Subject: Accountancy
, asked on 24/10/17
pass necessary journal entries:
11. Authorised capital of Suhani Ltd. is Rs 45,00,000 divided into 30,000 share of Rs. 150 each. Out of these company issue 15,000 shares of Rs 150 each at a premium of Rs 10 per share. The amount was payable as follows:
Rs. 50 per share on application, Rs. 40 per share on allotment (including premium). Rs. 30 per share on first call and balance on final call. Public applied for 14,000 shares. All the money was duly received.
Answer
2
Ipsita Chakravarty
Subject: Accountancy
, asked on 13/10/17
94. B Ltd. forfeited 500 shares of Rs 10 each issued at 20% premium (to be paid at the time of allotment) for non-payment of the first call of Rs 3 per share and final call of Rs 2 per share. Out of these, 300 shares were re-issued as fully paid-up for Rs 10 per share. Journalise.
95. C Ltd. forfeited 300 shares of Rs 10 each issued at 20% premium (to be paid at the time of allotment) for non-payment of allotment money of Rs 4 ped share (including premium), first call of Rs 3 per share and final call of Rs 2 per share. Out of these, 200 shares were re-issued a fully paid-up at a discount of Rs 3 per share. Journalise.
Answer
2
Deepanshu Arora
Subject: Accountancy
, asked on 11/10/17
Mars Ltd. issued 2,00,000 Shares of rs 10 each at a premium of rs 2 per share . The Amount was receivable as rs 4 on application , rs 5 on allotment , balance on first and final call . Applications were received for 2,50,000 shares and pro rata allotment was made to all the applicants . Ajay Holding 2000 shares did not pay the amount due on allotment , and Vijay Holding 1500 shares paid the full amount with allotment itself . Calculate the amount received on allotment ?
Answer
1
Ipsita Chakravarty
Subject: Accountancy
, asked on 11/10/17
Q. A company issued 10,000 shares of Rs. 10 each at a premium of Rs. 1 per shares , payment to be made as follows :
Rs.
On Application 3
On allotment 4 (including premium)
On first call 2
On second and final call 2
Applications were received for 20,000 shares. Application for 5,000 shares were rejected and allotment was made proportionately to the remaining applicants . The directors made both the calls and all the money were received , except the allotment , first call and final call on 400 shares , which were subsequently forfeited , Later , 300 of the forfeited shares were re-issued as fully paid @ Rs. 15 per shares . Give journal entries to record the above.
Hint : Securities Premium Reserve Account has been debited in the entry of forfeiture because it is assumed that entire excess application money received on forfeited shares is utilised for share capital.
Answer
1
Tejasvita Goel
Subject: Accountancy
, asked on 11/10/17
i have a doubt in share capital question of t.s grewal question no 66 which u have already been solved in textbook solution enrty no 1 can you please explain how it is 2000 shares
Q66. Pass Journal entries in the following cases :
M Ltd. forfeited 200 Equity Shares of Rs. 10 each, issued at a premium of Rs. 5 per share, held by Ram for non-payment of the final call of Rs. 3 per share. Of these, 100 shares were reissued to Vishu at discount of Rs. 4 per share. [Ans . Capital Reserve- Rs.300.]
Answer
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What are you looking for?
11. Authorised capital of Suhani Ltd. is Rs 45,00,000 divided into 30,000 share of Rs. 150 each. Out of these company issue 15,000 shares of Rs 150 each at a premium of Rs 10 per share. The amount was payable as follows:
Rs. 50 per share on application, Rs. 40 per share on allotment (including premium). Rs. 30 per share on first call and balance on final call. Public applied for 14,000 shares. All the money was duly received.
95. C Ltd. forfeited 300 shares of Rs 10 each issued at 20% premium (to be paid at the time of allotment) for non-payment of allotment money of Rs 4 ped share (including premium), first call of Rs 3 per share and final call of Rs 2 per share. Out of these, 200 shares were re-issued a fully paid-up at a discount of Rs 3 per share. Journalise.
Rs.
On Application 3
On allotment 4 (including premium)
On first call 2
On second and final call 2
Applications were received for 20,000 shares. Application for 5,000 shares were rejected and allotment was made proportionately to the remaining applicants . The directors made both the calls and all the money were received , except the allotment , first call and final call on 400 shares , which were subsequently forfeited , Later , 300 of the forfeited shares were re-issued as fully paid @ Rs. 15 per shares . Give journal entries to record the above.
Hint : Securities Premium Reserve Account has been debited in the entry of forfeiture because it is assumed that entire excess application money received on forfeited shares is utilised for share capital.
Q66. Pass Journal entries in the following cases :
M Ltd. forfeited 200 Equity Shares of Rs. 10 each, issued at a premium of Rs. 5 per share, held by Ram for non-payment of the final call of Rs. 3 per share. Of these, 100 shares were reissued to Vishu at discount of Rs. 4 per share. [Ans . Capital Reserve- Rs.300.]