Z Ltd. issued 10,000 shares of the value of ₹ 10 each, payable ₹ 3 on application, ₹ 3 on allotment and ₹ 4 on the first and final call
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What amount of gain on reissue will be transferred to Capital Reserve under following situations? (i) 3,000 shares of ₹ 10 each of Rakesh were
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Determine the maximum permissible discount and minimum reissue price that a company can allow at the time of reissue of forfeited shares in the following cases
Solution:- i) Maximum permissible discount is equal to the amount received before reissue. In this case, ₹ 5 has already been received out of ₹ 10. Thus, this share can be reissued at a minimum of ₹ 5 with a…
Black Stone Ltd. issued 10,000 Equity Shares of ₹ 10 each at a premium of ₹ 3 per share payable ₹ 5 on application, ₹ 5 (including premium) on allotment and the balance on first call
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Ankit Ltd issued 20,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share, payable as:
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Ratan Ltd forfeited 3,000 shares of ₹ 10 each (issued at ₹ 2 premium) for non-payament of first call of ₹ 2 per share
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Sangita Limited invited applications for issuing 60,000 shares of ₹ 10 each at par. The amount was payable as follows: on application ₹ 2 per share; on allotment ₹ 3 per share; on first and final call ₹ 5 per share
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Alpha Ltd. issued 20,000 Equity Shares of ₹ 10 each at par payable: On Application ₹ 2 per share; on allotment ₹ 3 per share; on first call ₹ 3 per share; on second and final call ₹ 2 per share.
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Vikram Ltd. forfeited 5,000 shares of Rahul, who had applied for 6,000 shares for non-payment of allotment money of ₹ 5 per share and first and final call of ₹ 2 per share
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Light Lamps Ltd. issued 50,000 shares of ₹ 10 each as fully paid-up to the promoters for their services to set-up the company
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