Financial AccountingTU Board 2022
A company issued 50,000 share @ Rs.100 each. The company called money Rs.30 on application, Rs. 40 on allotment and Rs 40 on final call. The company received application for 55,000 shares. The board…
5A company issued 50,000 share @ Rs.100 each. The company called money Rs.30 on application, Rs. 40 on allotment and Rs 40 on final call. The company received application for 55,000 shares. The board of director return over application money and allotted in full. A shareholder holds 500 shares unpaid money of allotment and final call and forfeited after final call. Required: Journal entries application, allotment, final call and share forfeiture.
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