Company Accounts Issue Of Shares CBSE Questions & Answers

V Ltd. Issued 20,000 Equity shares of Rs.10 each at a premium of Rs.3 payable as follows On Application Rs. 4 on Allotment Rs.5 (including) On Application Rs. 2 On Application Rs. 2 All shares were duly subscribed and all money duly received. Journal entry for the amount due on Final call

ABC Ltd. issued 10000 shares of Rs.10 each at a discount of 10% payable Rs.5 on application, Rs. 3 on allotment and Rs.2 on First and Final Call. Only 9,000 shares were applied for and the allotment was made to all the applicants. By what amount share capital amount should be credited when amount due on allotment entry is passed

Amit Co. Ltd. Purchased a machine from M Co. for Rs.64000. It was decided to pay Rs.10000 in cash and balance will be paid by issue of shares of Rs.10 each. Pass journal entries if shares Issued at premium of 12 percent.

A company issued 15,000 fully paid up equity shares of Rs.100 each for the purchase of the following assets and liabilities from Gupta Bros.. Plant Rs.3,50,000 Stock Rs. 4,50,000 Land and Building Rs. 6,00,000 Sundry Creditors Rs. 1,00,000.Entry for payment of business price

T Co. Ltd. Purchased a machine from M Co. for Rs.64000. It was decided to pay Rs.10000 in cash and balance will be paid by issue of shares of Rs. 10 each. Pass journal entries if shares Issued at discount of 10 percent, Fine the Amount of discount

S Co. Ltd. Purchased a machine from H Co. for Rs.64000. It was decided to pay Rs.10000 in cash and balance will be paid by issue of shares of Rs.10 each. Pass journal entries if shares Issued at premium of 12percent Fine the Amount of Premium

A company purchased a running business from Mahesh for a sum of Rs. 150,000 payable as Rs. 120000 in fully paid equity shares of Rs. 10 each and balance in cash. The assets and liabilities consisted of the following Plant and Machinery Rs.40000 Stock Rs.50000 Building Rs. 40000 CashRs.20000 Sundry debtors Rs.30000 Sundry creditors Rs.20000.Calculate capital reserve

A company purchased a running business from Mahesh for a sum of Rs.150000 payable as Rs.120000 in fully paid equity shares of Rs.10 each and balance in cash. The assets and liabilities consisted of the following Plant and Machinery Rs.40000 Stock Rs.50000 Building Rs.40,000 Cash Rs. 20000 Sundry debtors Rs.30000 Sundry creditors Rs.20000. Calculate equity share capital

1000 shares of Rs.10 each issued at a premium of Rs.2 per share are forfeited on which Rs.8 (including premium) have been received. Final call of Rs..4 has not been received. Journal entry for above transaction

1000 shares of `.10 each issued at a premium of ` 2 per share are forfeited on which only application money of `.4 has been received and ` 8 (including premium) has not been received . Journal entry for above transaction

Ltd. Forfeited 1000 shares of Rs.100 each issued at discount of Rs.10 per share Final call of Rs.20 has not been made on these shares. Rs.40 has been received per share. What should be journal entry for the above transaction

Ltd. Forfeited 200 shares of Rs.10 each fully called up held by X for no payment of allotment money of Rs.3 per share & Final call of Rs.4 per share. He paid the application money of Rs.3 per share. These shares were reissued to Y for Rs.8 per shares. Reissue entry of forfeited shares to Y

Ltd. Forfeited 200 shares of ` 10 each fully called up held by X for no payment of allotment money of ` 3 per share & Final call of ` 4 per share. He paid the application money of ` 3 per share. These shares were reissued to Y for ` 8 per shares. Journal entry for the transfer of profit on reissue to Capital Reserve

A Ltd. Forfeited 100 shares of Rs.100 each issued at a premium of 50 percent to be paid at time allotment on which first call of Rs.30 per equity share was not received, final call of Rs.20 is yet to be made. These shares were reissued at Rs.70 per share at Rs.80 paid up. Journal entry when 100 shares forfeited for nonpayment of calls money

A Ltd. Forfeited 100 shares of v100 each issued at a premium of 50% to be paid at time allotment on which first call of Rs.30 per equity share was not received, final call of Rs.20 are yet to be made. These shares were reissued at Rs.70 per share at Rs.80 paid up Calculate profit on reissue