CBSE Class-12 Accountancy: Questions 13 - 18 of 209
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Question number: 13
Question number: 14
Question number: 15
Write in Short
Give the objectives of Cash flow statement.
Question number: 16
Question number: 17
Describe in Detail
Janata Ltd. invited application for issuing 70, 000 equity shares of Rs. 10 each at a premium of Rs. 2 per share. The amount was payable as follows:
On application Rs. 4 per share (including premium)
On allotment Rs. 3 per share
On first and final Balance
Applications for 1, 00, 000 shares were received. Applications for 10, 000 shares were rejected. Shares were allotted to the remaining applicants on pro-rata basis. Excess money received with applications were adjusted towards sums due on allotment. All calls were made and were duly received except first and final call on 700 shares allotted to Kanwar. His shares were forfeited.
The forfeited shares were re-issued for Rs. 77, 000 fully paid up.
Pass necessary journal entries for the books of the company for the above transactions.
Bank A/c ……Dr.
4, 00, 000
To Share Application A/c
(Being application money received on 1, 00, 000 shares@Rs. 4 per… (242 more words) …