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corporate accounting - issue of shares at premium Q1: Havana Ltd. issued 100000 shares of 100$ each at a premium of 10$ per share, payable

corporate accounting - issue of shares at premium

Q1: Havana Ltd. issued 100000 shares of 100$ each at a premium of 10$ per share, payable as: On application. $50 (including 10$ premium) per share, On allotment 40$ per share, On call. 20$ per share. Applications were received for55000$shares and allotment was made to all.

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