2,000 Equity Shares of ₹ 10 each were issued to Moon Limited from whom assets of ₹ 25,000 were acquired Pass Journal entry.
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Random Ltd. took over running business of Mature Ltd. comprising of Assets of ₹ 45,00,000 and Liabilities of ₹ 6,40,000 for a purchase consideration of ₹ 36,00,000
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Usha Ltd. was formed with a capital of ₹ 10,00,000 divided into shres of ₹ 100 each. It offered 90% shares to public for subscription
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Prem Industries Ltd. made the first call of ₹ 2 per share on its 1,00,000 Equity Shares on 1st March, 2021
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Amit Ltd. was registered with a capital of ₹ 5,00,000 in shares of ₹ 10 each and issued 20,000 such shares at a premium of ₹ 2 per share, payable as ₹ 2 per share on application
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Ghosh Ltd. made the second and final call on its 50,000 Equity Shares @ ₹ 2 per share on 1st January, 2016
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The authorised capital of Sarang Ltd. is ₹ 1,20,00,000 divided into 12,00,000 shares of ₹ 10 each. Out of these, company issued 8,00,000 shares of ₹ 10 each at a premium of 20%. The amount per share was payable as follows:
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Blue Chip Ltd. was registered on 1st January, 2023 with a capital of ₹ 10,00,000 divided into 1,00,000 shares of ₹ 10 each
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Pure Products Ltd. is registered with authorised capital of ₹ 10,00,000 divided into 1,00,000 equity shares of ₹ 10 each
Solution:- (i) Minimum subscription is 70,000 × 90% = 63,000 shares. The application is received ₹ 1,89,000 Thus number of shares on which application is received is 1,89,000/3 = 63,000 shares. Thus the company should allot the shares to the…
Home Products Ltd. is registered with authorised capital of ₹ 10,00,000 divided into 1,00,000 Equity Shares of ₹ 10 each
Solution:- Note: As the minimum subscription of 70000 × 90% = 63,000 shares is not received. Thus, all application money is to be returned to the subscribers.