Saurab Ltd. issued 2,000; 9% Debentures of ₹ 100 each payable as follows: ₹ 25 on application; ₹ 25 on allotment and ₹ 50 on first and final call.
Solution:-
Commerce School
Student Community
Archives Answers
Answer
Epson Ltd. issued 40,000; 10% Debentures of ₹ 100 each at par for cash payable in full along with the application. Applications were received for 60,000 debentures
Solution:-
Arvind Ltd. issued 20,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as: On Application ₹ 6 On Allotment ₹ 3 (including premium)
Solution:-
Swasth Ltd. ‘forfeited 2,000 shares of ₹ 10 each for non-payment of final call of ₹ 3 per share. 1,500 of these shares were reissued and gain on reissue transferred to Capital Reserve was ₹ 7,500
Solution:-
Ratan Ltd. ‘forfeited 1,000 shares of ₹ 10 each for non-payment of first and final call of ₹ 2 per share. These shares were reissued and gain on reissue transferred to Capital Reserve was ₹ 5,000
Solution:-
A company forfeited 4,000 shares of ₹ 10 each fully called-up, on which application money of ₹ 3 each has been paid. Out of these, 2,000 shares were reissued as fully paid-up for ₹ 18,000
Solution:-
Dell Ltd. forfeited 2,000 Equity Shares of ₹ 50 each issued at 10% premium on which allotment money of ₹ 15 per equity share (including premium) and first call of ₹ 15 per share were not received, the second and final call of ₹ 10 per equity share was not yet called
Solution:-
Computer Mart Ltd. forfeited 1,000 Equity Shares of ₹ 50 each issued at 10% premium on which allotment money of ₹ 15 per equity share (including premium) and first call of ₹ 15 per share were not received the second and final call of ₹ 10 per equity share were not yet called
Solution:-
Star Ltd. issued 10,000 shares of ₹ 10 each, payable as ₹ 4 on application, ₹ 3 on allotment, ₹ 2 on first call and balance on second and final call. 500 shares were forfeited, Calculate the ‘Maximum Permissible Discount’ and Minimum Reissue Price
Solution:-
Vani Limited invited applications for issuing 1,00,000 equity shares of ₹ 10 each at a premium of 10%. The amounts were payable as under:
Solution:-