What is the nature(Real/Personal?Nominal) Please justify why:
share capita A/C
Share allot ac
share forfeiture ac
capital reserve ac
securities premium account
Can anyone explain how to calculate capital reserve amount when all forfeited shares are not reissued?
I want solutions of T.S.Grewal's double entry book keeping solutions for class 12th..plys help me ,,
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(Pro-rata Allotment of Shares Issued at Premium, Non-Payment of Allotment and Calls, Forfeiture and Reissue).
A limited company issued a prospectus inviting applications for 2,000 shares of Rs.10 each at a premium of Rs.2 per share payable as follows:
On application Rs.2 per share
On allotment Rs.5 per share (including premium)
On 1st call Rs.3 per share
On 2nd call Rs2 per share
Application were received for 3,000 shares and allotment made pro-rata to the applicants of 2,400 shares, the remaining applications being refused. Money over-paid on application was employed on account of sums due on allotment. Rajesh, to whom 40 shares were allotted failed to pay allotment money and on his subsequent failure to the 1st call, his shares were forfeited. Madan, the holder of 60 shares, failed to pay the two calls and so his shares were also forfeited.
All these shares were sold to Kadam credited as fully paid for Rs.9 per share.
Show the Journal and Cash Book entries in the books of the company.
please also show the working notes.
H Ltd issued a prospectus inviting applications for 20,000 shares of Rs. 10 each at a premium of
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The following is theaccount of cash transactions of the Nari Kalayan Samittee for theyear ended December 31, 2006:
Balance from last year
Life membership fee
Profit from entertainment
Printing and Stationery
Sale of old Books (books value Rs1,000)
Expenses on Nukar Drama
Cash in Hand
Cash at Bank
You are required toprepare an Income and Expenditure Account after the followingadjustments:
Subscription still to be received are Rs 750, but subscription include Rs 500 for the year 2007.
In the beginning of the year the Sangh owned building Rs 20,000 and furniture Rs 3,000 and Books Rs 2,000.
Provide depreciation on furniture @ 5% (including purchase), books @ 10% and building @ 5%.
X ltd. has an authorised capital of rs. 10,00,000 divided into equity shares of rs. 10 each. The company invited applications for 50,000 shares. Applications for 45,000 shares were received. All calls were duly received except the final call of rs. 2 per share on 1,000 shares. 500 of the shares on which the final call was not received were forfeited. Show how share capital will appear in the company balance sheet of the company as per schedule vi, Part i of the companies act,1956.
Eastern Company Limited, having an authorised capital of Rs 10,00,000 in shares of Rs 10 each, issued 50,000 shares at a premium of Rs 3 per share payable as follows :
Rs 3 per share
On Allotment (including premium)
Rs 5 per share
On first call (due three months after allotment) and the balance as and when required.
Applications were received for 60,000 shares and the directors allotted the shares as follows :
(a) Applicants for 40,000 shares received shares, in full.
(b) Applicants for 15,000 shares received an allotment of 8,000 shares.
(c) Applicants for 500 shares received 200 shares on allotment, excess money being returned.
All amounts due on allotment were received.
The first call was duly made and the money was received with the exception of the call due on 100 shares.
Give journal and cash book entries to record these transactions of the company. Also prepare the Balance Sheet of the company.
bharat tires limited invited applications for 100000 equity shares of rs 10 each issued at a premium of rs 4 per share. the amount was payble as follows: on application rs 6 (including premium rs 2) on allotmentrs 6 (including premium rs 2), applications for 150000 shares were recieved. allotment was made to all the applications on pro-rata basis. subodh, to whom 200 shares were alloted, failed to pay allotment and call money. vikram , to whom 100 shares were alloted, failed to pay the call money. their shares were forfeited and after wards re-issued @ rs 10 per share fully paid up.
pass neccessary journal entries with working notes
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