Journalise the following: (a) Y Ltd. forfeited 400 shares of ₹ 100 each, issued at a premium of ₹ 5 per share (to be paid at the time of allotment) for non-payment of a first call of ₹ 20 per share
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X Ltd. forfeited 500 shares of ₹ 100 each, ₹ 75 called-up, issued at 10% premium (to be paid at the time of allotment) for non-payment of a first call of ₹ 20 per share
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Vikram Ltd. issued 50,000 shares of ₹ 10 each at a premium of ₹ 1 per share payable as follows: ₹ 3 on Application; ₹ 4 on Allotment (including premium)
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X Ltd. issued a prospectus offering 2,00,000 shares of ₹ 10 each at ₹ 14 per share, payable as follows On Application ₹ 4 On Allotment ₹ 6 (including Premium ₹ 4)
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Accountancy Publication Ltd. issued 50,000 equity shares of ₹ 10 each at a premium of 10% payable as under: On Application ₹ 3; On Allotment ₹ 4 (Premium ₹ 1)
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Paliwal Exports Ltd. with a share capital of ₹ 10,00,000 divided into 20,000 shares of ₹ 50 each offers the shares to the public as under:
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Journalise the following A Ltd. forfeited 1,000 shares of ₹ 10 each, ₹ 8 paid, for non-payment of final call of ₹ 2 per share. Out of these, 400 shares were re-issued as fully paid-up in such a way that ₹ 2,000 were transferred to Capital Reserve
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Pass journal entries for the forfeiture and re-issue in the following cases: X Ltd forfeited 700 shares of Ashok of ₹ 10 each ₹ 8 called-up, on which he had paid ₹ 5 per share. Out of these, 500 shares were re-issued for ₹ 9 per share as fully paid
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Pass Journal entries for the forfeiture and re-issue in the following cases: (i) A Ltd. forfeited 1,000 shares of ₹ 10 each fully called up for non-payment of first call of ₹ 3 per share and final call of ₹ 3 per share
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A, who holds 200 shares of ₹ 100 each, has paid only ₹ 25 per share as application money. B, who holds 300 shares of ₹ 100 each, has paid ₹ 25 per share on application and ₹ 30 per share on allotment
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