Sarthaks Test
0 votes
6.2k views
in Accounts by (64.1k points)

A company issued 10,000 shares of the value of Rs.10 each, payable Rs.3 on application, Rs.3 on allotment and Rs.4 on the first and final call. All amounts are duly received except the call money on 100 shares. These shares are subsequently forfeited by Directors and are resold as fully paid-up for Rs.500.Give necessary Journal entries for the transactions.

1 Answer

0 votes
by (106k points)
selected by
 
Best answer

Working Note :

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...