Meena ltd.issued 60000 shares of Rs.10 each at a premium of Rs. 2 per share payable as Rs.3 on application, Rs. 59(including premium0 on allotment and the balance on first and final call.Applications were received for 1,02,000 shares.The Directors resolved to allot as follows:
A.Applicants of 60000 shares - 30000 shares
B.Applicants of 40000 shares - 30000 shares
C.Applicants of 2000 shares - Nil
Nikhil, who had applied for 1,000 shares in category A and Vish who was allotted 600 shares in category B failed to pay allotment money.
calculate the amount received on allotment.
solution of qwes no 115 of ts grewal....(share capital)
Apollo Ltd. issued for public subscription 40,000 equity shares of rs. 10 each at a premium of rs. 2 per share payable as under:
applications were received for 60,000 shares. Allotment was made on pro-rata basis to the applicants of 48,000 shares, the remaining applications were being refused. Money overpaid on application was utilised towards sum due on allotment.
Ram to whom 1,600 share were allotted failed to pay the allotment and shyam to whom 2,000 shares were allotted failed to pay the two calls. These shares were subsequently forfeited after the second call was made. All the forfeited shares were reissued as fully paid-up at Rs. 8 per share.
Give the necessary journal entries for the above transactions.
which value has been affected by rejecting the applications of the applicants who had applied for 12,000 shares? suggest an alternative for the same.
Meena ltd.issued 60000 shares of Rs.10 each at a premium of Rs. 2 per share payable as Rs.3 on application, Rs. 59(including premium0 on allotment and the balance on first and final call.Applications were received for 1,02,000 shares.The Directors resolved to allot as follows:
A.Applicants of 60000 shares - 30000 shares
B.Applicants of 40000 shares - 30000 shares
C.Applicants of 2000 shares - Nil
Nikhil, who had applied for 1,000 shares in category A and Vish who was allotted 600 shares in category B failed to pay allotment money.
calculate the amount received on allotment.
solution of qwes no 115 of ts grewal....(share capital)
Apollo Ltd. issued for public subscription 40,000 equity shares of rs. 10 each at a premium of rs. 2 per share payable as under:
applications were received for 60,000 shares. Allotment was made on pro-rata basis to the applicants of 48,000 shares, the remaining applications were being refused. Money overpaid on application was utilised towards sum due on allotment.
Ram to whom 1,600 share were allotted failed to pay the allotment and shyam to whom 2,000 shares were allotted failed to pay the two calls. These shares were subsequently forfeited after the second call was made. All the forfeited shares were reissued as fully paid-up at Rs. 8 per share.
Give the necessary journal entries for the above transactions.
which value has been affected by rejecting the applications of the applicants who had applied for 12,000 shares? suggest an alternative for the same.