{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T05:54:25-04:00", "answer_date": "2024-05-27 05:54:25", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1781090", "url": "\/study-help\/questions\/eta-ltd-has-a-nominal-capital-of-200000-divided-into-1781090", "question_creation_date_js": "2024-05-27T05:54:25-04:00", "question_creation_date": "May 27, 2024 05:54 AM", "meta_title": "[Solved] Eta Ltd has a nominal capital of $200,000 | SolutionInn", "meta_description": "Answer of - Eta Ltd has a nominal capital of $200,000 divided into 200,000 ordinary shares of $1 each. The whole of the capital wa | SolutionInn", "meta_keywords": "eta,ltd,nominal,capital,$200,000,divided,200,000,ordinary,shares,$1,issued,par", "question_title_h1": "Eta Ltd has a nominal capital of $200,000 divided into 200,000 ordinary shares of $1 each. The whole of the capital was issued at par", "question_title": "Eta Ltd has a nominal capital of $200,000 divided into 200,000 ordinary", "question_title_for_js_snippet": "Eta Ltd has a nominal capital of $200,000 divided into 200,000 ordinary shares of $1 each The whole of the capital was issued at par on the following terms Per share Amount ($) Payable on application 0 18 Payable on allotment 0 30 First call 0 25 Second call 0 27 Applications were received for 240,000 shares and it was decided to allot the shares on the basis of four for every five for which applications had been made The balance of application monies were applied to the allotment, no cash being refunded The balance of allotment monies were paid by the members The calls were made and paid in full by the members, with the exception of a member who failed to pay the first and second calls on the 2,000 shares allotted to them A resolution was passed by the directors to forfeit the shares The forfeited shares were later issued to H Clark at $0 75 each Required Show the ledger accounts recording all the above transactions, and the relevant extracts from a balance sheet after all the transactions had been completed ", "question_description": "

Eta Ltd<\/strong> has a nominal capital of $200,000 divided into 200,000 ordinary shares of $1 each. The whole of the capital was issued at par on the following terms:<\/p>

Per share<\/strong><\/p><\/td>

Amount ($)<\/strong><\/p><\/td><\/tr><\/thead>

Payable on application<\/p><\/td>

0.18<\/p><\/td><\/tr>

Payable on allotment<\/p><\/td>

0.30<\/p><\/td><\/tr>

First call<\/p><\/td>

0.25<\/p><\/td><\/tr>

Second call<\/p><\/td>

0.27<\/p><\/td><\/tr><\/tbody><\/table>

Applications were received for 240,000 shares and it was decided to allot the shares on the basis of four for every five for which applications had been made. The balance of application monies were applied to the allotment, no cash being refunded. The balance of allotment monies were paid by the members.<\/p>

The calls were made and paid in full by the members, with the exception of a member who failed to pay the first and second calls on the 2,000 shares allotted to them. A resolution was passed by the directors to forfeit the shares. The forfeited shares were later issued to H Clark at $0.75 each.<\/p>

Required:<\/strong> Show the ledger accounts recording all the above transactions, and the relevant extracts from a balance sheet after all the transactions had been completed.<\/p>", "transcribed_text": "", "related_book": { "title": "Frank Woods Business Accounting Volume 2", "isbn": "0273693107, 978-0273693109", "edition": "10th Edition", "authors": "Frank Wood, Alan Sangster", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/62ff16243896e_11742.jpg", "uri": "\/textbooks\/frank-woods-business-accounting-volume-2-10th-edition-9780273693109", "see_more_uri": "\/textbooks\/business-trading-3391" }, "free_related_book": { "isbn": "979-8370677403", "uri": "\/textbooks\/year-9-trigonometry-1st-edition-979-8370677403-153122", "name": "Year 9 Trigonometry", "edition": "1st Edition" }, "question_posted": "2024-05-27 05:54:25", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/personal-finance\/joel-purchased-100-shares-of-stock-for-20-per-share-781041", "description": "Joel purchased 100 shares of stock for $20 per share. During the year, he received dividend cheques amounting to $150. After three years, Joel sold the stock for $32 per share. What was his holding...", "stars": 3.5 }, { "url": "\/highland-health-club-charges-an-initiation-fee-of-1800-to", "description": "Highland Health Club charges an initiation fee of $1,800 to join the club and $250 per month in dues. During its first year of operation, it enrolled 400 members starting on January 2, 2010. It is...", "stars": 3 }, { "url": "\/study-help\/services-marketing-concepts\/a-college-in-a-metropolitan-area-wishes-to-increase-its-1891023", "description": "A college in a metropolitan area wishes to increase its evening offerings of business-related courses such as marketing, accounting, finance, and management. Who are the target market customers...", "stars": 3 }, { "url": "\/study-help\/biostatistics\/assuming-the-normality-assumptions-are-satisfied-and--1981238", "description": "Assuming the normality assumptions are satisfied and ???????? ????????, determine the rejection region for a two-sample ????-test for comparing the means ???????? and ???????? when (a) ????0 ...", "stars": 3 }, { "url": "\/the-brownsville-plant-of-buckman-company-produces-an-industrial-chemical", "description": "The Brownsville plant of Buckman Company produces an industrial chemical. At the beginning of the year, the Brownsville plant had the following standard cost sheet: Direct materials (10 lbs. @ $1.60)...", "stars": 3 }, { "url": "\/study-help\/questions\/3-film-co-noncallable-bonds-currently-sell-for-1150-they-9907063", "description": "3. Film Co. non-callable bonds currently sell for $1,150. They have a 10-year maturity, an annual coupon of $100, and a par value of $1,000. What is their yield to maturity?* A. 5.84% B. 6.15% C....", "stars": 3 }, { "url": "\/study-help\/questions\/jill-has-100kshe-sells-short-50000-of-stock-a-and-1018976", "description": "Jill has $100k.She sells short $50,000 of stock A, and then buys $75k in stock B and $75k in stock C.After a year, A appreciates by 10%, B by 40%, and C depreciates by 20%.What is the overall return...", "stars": 3 }, { "url": "\/study-help\/questions\/question-consider-the-following-figure-draw-the-bfs-tree-considering-999894", "description": "Question: Consider the following figure. Draw the BFS tree considering 2 as the source node and mark each level. If you have multiple options while traversing, pick the node with smallest index. Part...", "stars": 3 }, { "url": "\/study-help\/questions\/to-be-superior-to-similar-products-available-in-the-market-1008863", "description": "To be superior to similar products available in the market, products and services must possess a high level of quality. In different forms, most products come with assurances of quality, but are they...", "stars": 3 }, { "url": "\/study-help\/questions\/change-is-inevitable-when-it-comes-to-health-and-healthcare-1008868", "description": "Change is inevitable when it comes to health and healthcare. Patients are going to have changing diagnoses and have a change in health at any time. In this case study, we saw a few things change...", "stars": 3 }, { "url": "\/study-help\/questions\/in-the-final-dept-of-omega-co-materials-are-introduced-1001456", "description": "In the Final dept of OMEGA Co. materials are introduced when processing is half-done. In May 19x6, charges to this department were: May 1 inventory, 15000 units (40% done) Received from prior...", "stars": 3 }, { "url": "\/study-help\/questions\/blade-angle-of-attack-the-bk-117-helicopter-has-the-1029964", "description": "Blade Angle of Attack. The BK 117 helicopter has the following characteristics: m = 3200 kg f = 1.55 m2 (estimated) _T = 8 = 0.074 = 6.61 (at sea level) R = 5.5 m V_tip = 221 m\/s a = 5.79 per radian...", "stars": 3 }, { "url": "\/study-help\/questions\/several-years-ago-baker-storage-issued-4000000-shares-of-its-8371653", "description": "Several years ago, Baker Storage issued 4,000,000 shares of its $1 par common stock for $15 per share. last year, for the first time, Baker required 100,000 of those shares for $13 per share....", "stars": 3 }, { "url": "\/study-help\/precalculus-1st\/for-the-following-exercises-find-the-area-of-the-triangle-round-to-the", "description": "For the following exercises, find the area of the triangle. Round to the nearest hundredth. 22 50 36", "stars": 3 }, { "url": "\/study-help\/public-organizations\/what-does-the-research-say-about-the-value-of-intrinsic-1672533", "description": "What does the research say about the value of intrinsic incentives for employees at lower salary levels compared to their supervisors? LO.1", "stars": 3 }, { "url": "\/study-help\/public-organizations\/how-would-you-describe-the-concepts-of-role-conflict-and-1672538", "description": "How would you describe the concepts of role conflict and ambiguity and how they relate to an employees level of motivation? LO.1", "stars": 3 }, { "url": "\/study-help\/public-organizations\/what-do-some-economists-such-as-anthony-downs-and-william-1672528", "description": "What do some economists, such as Anthony Downs and William Niskanen, claim about motives and incentives in public organizations? What is public service motivation? How does Perry define and measure...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/zeta-corp-has-a-nominal-capital-of-150000-divided-into-1781089", "next": "\/study-help\/questions\/theta-ltd-has-a-nominal-capital-of-300000-divided-into-1781091" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Eta Ltd has a nominal capital of $200,000 divided into 200,000 ordinary", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/eta-ltd-has-a-nominal-capital-of-200000-divided-into-1781090" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } } }