Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Explain with steps please Anunt autem CU CAPILA SELVE NEW IWW 53. A limited company issued a prospectus inviting applications for 2,000 shares on Rs.
Explain with steps please
Anunt autem CU CAPILA SELVE NEW IWW 53. A limited company issued a prospectus inviting applications for 2,000 shares on Rs. 10 each at a premium of Rs. 2 per share payable as follows: On application - Rs. 2 per share On allotment - Rs. 5 per share On first call - Rs. 3 per share On final call - Rs. 2 per share Amount payable on allotment included premium also. Applications were for 3,000 she res and pro-rata allotment was made on applications for Money overpaid on applications was employed towards the sum due on a Ramesh who took 40 shares failed to pay the allotment money and his si ons were received ations for 2,400 shares n due on allotment Y and his shares were forfeited on his failure to pay the first call also. Mohan the holder of 60 shares failed to pay the two calls and his forfeited after the second call. of the shares forfeited, 80 shares were sold to Krishna credited as Rs. 9 per share the whole of Ramesh's shares being included. Shox the journal entries. Thiriall als and his shares were a credited as fully paid forStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started