Share Capital 148

Pearl Ltd. issued a prospectus inviting applications for 40,000 shares of ₹ 10 each at a premium of 20%. The amount was payable as follows: On Application – ₹ 5 per share On Allotment – ₹ 5 per share (Including Premium) On First and Final call – Balance Applications for 60,000 shares were received and … Read more

Share Capital 147

Diamond Ltd. issued a prospectus inviting applications for 20,000 shares of ₹ 10 each. The amount was payable as follows: On Application – ₹ 4 per share On Allotment – ₹ 4 per share On First and Final call – Balance Applications for 45,000 shares were received and allotment was made as follows: Category (i) … Read more

Share Capital 146

Shringar Ltd. was registered with an authorised capital of ₹ 5,00,000 divided into equity shares of ₹ 10 each. The company issued a prospectus inviting applications for 20,000 equity shares. The amount was payable as follows: On Application – ₹ 3 per share On Allotment – ₹ 5 per share On First and Final call … Read more

Share Capital 145

Kavya Ltd. invited applications for issuing 30,000 shares of Rs. 10 each at a premium of Rs. 2 per share. The amount was payable as follows:  On application and allotment Rs. 7 per share On first and final call Rs. 5 per share (including Rs. 2 premium)  Applications were received for 33,000 shares. Applications for … Read more

Share Capital 144

Murari Ltd. invited applications for issuing 80,000 equity shares of Rs. 10 each at a premium of Rs. 4 per share. The amount per share was payable as follows: Rs. 5 on application and Rs. 9 (including premium) on allotment. Applications were received for 1,40,000 shares and allotment was made on pro-rata basis to all … Read more

Share Capital 143

On 1st April 2023, Khyati Ltd. was formed with an authorised capital of Rs. 20,00,000 divided into 2,00,000 equity shares of Rs. 10 each. The company invited applications for issuing 1,80,000 equity shares. The company received applications for 1,70,000 equity shares. During the first year, Rs. 8 per share were called and final call of … Read more

Share Capital 142

Chand Ltd. invited applications for issuing 1,00,000 equity shares of Rs. 10 each at a premium of Rs. 2 per share. The amount per share was payable as follows: Rs. 4 (including premium) on application, Rs. 5 on allotment and balance on first and final call. Applications were received for 1,80,000 shares of which applications … Read more

Share Capital 141

Lazal Ltd. invited applications for issuing 2,00,000 equity shares of Rs. 10 each, at 20% premium. Amount per share was payable as follows: Rs. 5 on application; Rs. 4 (including premium) on allotment; and balance on first and final call. Public applied for 3,20,000 shares, out of which applications for 20,000 shares were rejected and … Read more

Share Capital 140

Ronit Ltd. was registered with an authorised capital of Rs. 75,00,000 divided into 75,000 equity shares of Rs. 100 each. The company invited applications for issuing 45,000 shares. The amount was payable as follows: Rs. 30 per share on application, Rs. 30 per share on allotment, Rs. 25 per share on first call and balance … Read more

Share Capital 139

Manika Ltd. forfeited 500 shares of Rs. 100 each for non-payment of first call of Rs. 20 per share and second and final call of Rs. 25 per share. 250 of these shares were reissued at Rs. 50 per share fully paid up. Pass the Journal Entries for forfeiture and reissue of shares. Marks-3, CBSE: … Read more

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