Sangam Marbles Ltd. invited applications for 20,000 Equity Shares of ₹ 100 each issued at par payable on application. The issue was oversubscribed by 5,000 shares and allotment was made on pro rata basis. Pass necessary Journal entries.
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Faber Ltd. Invited applications for 70,000 equity shares of ₹ 100 each. The application money received @ ₹ 30 per share was ₹ 27,00,000. Name the kind of subscription. List the three alternatives for allotting these shares.
Solution:- As actual money of the application is (70,000 * 3) ₹ 21,00,000 and on Application, there are ₹ 27,00,000 is received. Thus It is the case of over-subscription. The excess money over application ₹ 6,00,000 can be returned The…
Authorised capital of Suhani Ltd. is ₹ 45,00,000 divided into 30,000 shares of ₹ 150 each. Out of these company issued 15,000 sahres of ₹ 150 each at a premium of ₹ 10 per share. The amount was payable as follows:
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Bharat Ltd. was incorporated with a capital of ₹ 20,00,000 divided into shares of ₹ 10 each, 20,000 shares were offered for subscription and out of these, 18,000 shares were applied for and allotted
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Seema Ltd. issued for subscription 10,000 shares of ₹ 25 each, payable ₹ 5 per share on application, ₹ 10 per share on allotment (including ₹ 5 per share as premium), ₹ 5 per share as first call on the shares and the balance in two equal amounts at intervals of three months
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Premio Ltd. issued 50,000 Equity Shares of ₹ 100 each at a premium of ₹ 50 per share, payable as follows: ₹ 100 per share on Application; and Balance on Allotment
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Modern Diaries Ltd. was registered with an authorised capital of ₹ 10,00,000 divided into 7,500 Equity Shares of ₹ 100 each and 2,500 Preference Shares of ₹ 100 each each
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National Textiles Ltd. was registered with the authorised capital of ₹ 3,00,000 divided into 3,000 shares of ₹ 100 each, which were offered to the public
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Akanksha Leathers Ltd. invited applications for 10,000 shares of ₹ 100 each payable as follows: ₹ 30 on application, ₹ 30 on allotment and balance on first and final call
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Authorised Capital of ₹ 16,00,000 of Bharat Ltd. is divided into 1,60,000 Equity Shares of ₹ 10 each
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