Ajanta Ltd. issued a prospectus inviting applications for issuing 5,00,000 equity shares of ₹ 10 each issued at a premium of 10%. The amount was payable as follows:
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Mangla Cortubi Ltd. took over a unit of Mangla Tubes Ltd. consisting of Machinery – ₹ 4,00,000, Tools and Dies – ₹ 10,00,000 and Liabilities of ₹ 25,00,000 for a consideration of ₹ 20,00,000
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Avon 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
Solution:- Avon Ltd.
Alok 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
Solution:- Alok Leather Ltd. Balance Sheet (extract) as at…..
Global Sales Ltd. issued 2,50,000 Equity Shares of ₹ 10 each to public at par for subscription, amount being payable as application money. Pass necessary Journal entries in the books of the company
Solution:- Books of Global Sales Ltd.
East India Hotels Ltd. was registered with authorised capital of ₹ 25,00,000 divided into 2,50,000 Equity Shares of ₹ 10 each. It issued 1,50,000 Equity Shares to public for subscription
Solution:- Notes:- As Question only ask to show share capital in the Balance Sheet. Call in Advance of Presh (5,000 x 3 = ₹ 15,000) is not shown in the notes to accounts. We show the Calls-In-Advance in the Equity…
Red Roses Ltd. was registered with capital of ₹ 25,00,000 divided into 25,000 Equity Shares of ₹ 100 each. It issued 15,000 Equity Shares to public for subscription
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Fragrances Ltd. was registered with capital of ₹ 5,00,000 divided into 50,000 Equity Shares of ₹ 10 each. It issued 20,000 Equity Shares to public for subscription
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Grand Hotels Ltd. had authorised capital of ₹ 50,00,000 divided into 50,000 Equity Shares of ₹ 100 each. It issued 10,000 Equity Shares to public for subscription on the following terms
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Sunstar Ltd. has an authorised capital of ₹ 20,00,000 divided into equity shares of ₹ 10 each. The company invited applications for issuing of 60,000 shares. Applications were received for 58,000 shares
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