Rathi Ltd. invited applications for issuing 1,00,000 shares of Rs. 10 each at a premium of Rs. 2 per share. Amount per share was payable as follows : On Application – Rs. 4 (including premium Rs. 1) On Allotment – Rs. 4 (including premium Rs. 1) On First and Final Call – Balance Applications were … Read more
Konark Ltd. invited applications for issuing 3,00,000 shares of Rs. 10 each. The amount per share was payable as follows: Rs. 3 on application, Rs. 3 on allotment, and Rs. 4 on first and final call. The company received applications for 4,00,000 shares. Allotment was done as follows: (i) Applicants of 2,40,000 shares were allotted … Read more
Bayson Ltd. invited applications for issuing 54,000 shares of Rs. 100 each payable as follows : Rs. 50 per share on application Rs. 10 per share on allotment Balance on first and final call. Applications were received for 80,000 shares. Full allotment was made to the applicants of 14,000 shares. The remaining applicants were allotted … Read more
Benolac Paints Ltd. invited application for issuing 1,20,000 equity shares of Rs. 10 each at a premium of Rs. 2 per share. The amount was payable as follows: On application – Rs. 3 per share (including premium Rs. 1) On allotment – Rs. 3 per share. On first and final call – Rs. 6 per … Read more
Midee Ltd. invited applications for issuing 27,000 shares of Rs. 100 each payable as follows : Rs. 50 – per share on application Rs. 10 – per share on allotment Balance – on first and final call. Applications were received for 40,000 shares. Full allotment was made to the applicants of 7,000 shares. The remaining … Read more
X Ltd. invited applications for issuing 5,00,000 equity shares of Rs. 10 each at par. The amount per share was payable as follows: On Application Rs. 1 per share On Allotment Rs. 2 per share On First call Rs. 3 per share On Second and Final call – Balance. Applications for 8,00,000 shares were received. … Read more
Manvet Ltd. invited applications for issuing 10,00,000 equity shares of Rs. 10 each payable as follows : On application and allotment Rs. 4 per share (including premium Rs. 1) On first call Rs. 4 per share, On second and final call Rs. 3 per share. Applications for 15,00,000 shares were … Read more
Past Year Papers Chapter wise Solutions Company – Accounting for Share Capital Lotus Ltd. invited applications for issuing 80,000 equity shares of ₹10 each at a premium of ₹4 per share. The amount was payable as follows: On application ₹5 per share and On allotment ₹9 per share (included premium). Applications were received for 1,40,000 … Read more
‘Venus Ltd’ was registered with an authorised capital of Rs. 40,00,000 divided into 4,00,000 equity shares of 10 each. 70,000 of these shares were issued as fully paid to ‘M/s. Star Ltd.’ for building purchased from them. 2,00,000 shares were issued to the public and the amounts were payable as follows: On Application – … Read more
Nidhi Ltd. Issued 2,000 Shares of 100 each. All the money was received except on 200 shares on which only Rs. 90 per share were received. These shares were forfeited and out of the forfeited shares 100 shares were reissued at Rs. 80 each as fully paid up. Pass necessary Journal entries for the above … Read more