Accounting for ...

X Limited forfeited 1,000 shares of 10 each for the non-payment of the final call of Rs.2 per share. These shares were reissued @ Rs.8 per share fully paid up. Find out the amount of capital reserve.

Directors of Vinod Limited forfeited 200 shares of ₹20 each, ₹15 per share called up on which ₹10 per share had been paid. Directors reissued all the forfeited shares to B as ₹15 per share paid up for a payment of ₹10 each. State the minimum amount at which these shares can be reissued.

Forfeited shares can be reissued at ____________

What entry will take place at the time of receipt of calls in arrears?

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

Vinod Ltd. forfeited 1,000 equity shares of ₹100 each for the non-payment of first call ₹20 per share and second and final call of ₹25 per share. These shares were reissued at ₹50 per share fully paid up. Find out the capital reserve.

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

X Ltd. invited application for 20,000 shares of the value of ₹10 each. The amount is payable as 2 on application and ₹5 on allotment and balance on First and Final call. Applications were received for 30,000 shares. Find out the amount received on application.

T Ltd. was formed with a nominal Share Capital of ₹40,00,000 divided into 4,00,000 shares of 10 each. The Company offers 130000 shares to the public payable ₹3 per share on Application, ₹ 3 per share on Allotment and the balance on First and Final Call. Applications were received for 120000 shares. All money payable on allotment was duly received, except on 200 shares held by Y. First and Final Call was not made by the Company. Call in arrears will be of

Amit Co. Ltd. Purchased a machine from M Co. for ₹64000. It was decided to pay ₹20000 in cash and balance will be paid by issue of shares of ₹10 each. Pass journal entries if shares Issued at premium of 10%

V Ltd. Issued 20,000 Equity shares of ₹10 each at a premium of ₹3 payable as follows:

On Application ₹4 ; On Allotment ₹5 (including); On 1st Call ₹2 ; On 2nd Call ₹ 2.

All shares were subscribed and all money duly received. Journal entry for the amount due on Final call will be ______

Vinod Limited forfeited 200 shares of ₹20 each, ₹15 per share called up on which ₹10 per share had been paid. Directors reissued all the forfeited shares to B as ₹15 per share paid up for a payment of ₹10 each. Find out capital reserve.

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.

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

10,000 shares issued for public subscription at a premium of 10%. Full amount was payable on application. Applications were received for 15,000 shares and pro-rata allotment was made. Find the amount to be refunded?

20,000 shares issued for public subscription at a premium of 10%. Full amount was payable on application. Applications were received for 30,000 shares and pro-rata allotment was made. Find the amount to be adjusted in securities premium?

V Ltd. Issued 20000 Equity shares of ₹10 each at a premium of ₹3 payable as follows: On Application ₹4 ; On Allotment ₹5 (including premium) On 1st call ₹2; On 2nd Call` 2.Applications were received for 30,000 shares and pro-rata allotment was made to all. Journal entry for the amount due on allotment will be ___

20,000 shares issued for public subscription at a premium of 10%. Full amount was payable on application. Applications were received for 30,000 shares and pro-rata allotment was made. Find the amount to be adjusted in Share Capital Account?

X Ltd. invited application for 10000 shares of the value of ₹10 each at a premium of 10%. The amount is payable as ₹3 on application (including premium) and ₹2 on allotment and balance on First and Final call. The whole of the above issue was applied and cash duly received. Journal entry for the application money received

At what maximum premium companies can issue its shares?