Accounting for ...

A company purchased a running business from Mahesh for a sum of ₹150,000 payable as ₹120000 in fully paid equity shares of ₹10 each and balance in cash. The assets and liabilities consisted of the following Plant and Machinery ₹40000 Stock ₹50000 Building ₹40000 Cash ₹20000 Sundry debtors ₹30000 Sundry creditors ₹20000.Calculate capital reserve.

Which account is debited When shares are issued to the promoters:

________ Shares have the right to receive arrears of dividend before dividend is paid to the equity shareholders.

At what maximum premium companies can issue its shares?

If a shareholder does not pay calls money on time a notice of ___________ days should be given to the shareholder to pay the amount.

Which type of shares can be issued at discount?

What is the meaning of the following Entry?
Incorporation Expenses A/c Dr.
To Share Capital A/c

Which of the following way is not used by the company to issue the shares?

Share Application A/c and Share Allotment A/c is:

Where will you record premium received on issue of equity shares?