Sanad Ltd. issued 100000 shares of BD 100 each at a premium of BD 10 per share, payable as: On application BD. 50 (including BD 10 premium) per share, On allotment BD 40 per share, On call BD. 20 per share. Applications were received for 90000 shares and allotment was made to all.

Requirement:

1. Change the highlighted number by choosing any number from 0 to 90000. The number should be different from your classmates (announce the number in WhatsApp group) and repeat the question by using the new number.

2. Make journal entries.

Q3: Sanad Ltd. Want to extend their business. So, it issued 2000 Debentures of BD 100 each at a premium of BD 10 per share. Payable as follows: BD 60 on Application (including BD 10 premium), BD 30 on Allotment and BD 20 on First and Final call. 1500 of the debentures were applied for and allotted. All the calls were duly received.

Requirement:

1. Change the highlighted number by choosing any number from 0 to 1500. The number should be different from your classmates (announce the number in WhatsApp group) and repeat the question by using the new number.

2. Make necessary journal entries in the books of the company.