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Sanjay Ltd invited applications from the public for the
issue of 10,000 equity shares of Rs. 10 each
at a premium of 20%, payable Rs. 3 on application; Rs. 5 on
allotment including premium and the
balance in two calls of an equal amount. Applications for
15,000 equity shares were received. The
directors allotted 10,000 shares to all the applicants on
pro-rata basis adjusting the excess application
money towards allotment. All money due on allotment and
calls were received.
Give journal entries to record the above transactions in the
books of the company. Also show the
balance sheet.
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Answer Posted / shantu
sir plz ans soon,,,,any one plz ans soon
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Alex’s Trial Balance at 31 December 2015 Dr (BWP) Cr (BWP) Capital 18 240 Bank overdraft 3 000 Fixtures and fittings 14 100 Provision for depreciation-fixtures and fittings 8 800 Inventory 14 200 Trade receivables 12 300 Trade payables 9 900 Revenue 110 000 Purchases 51 000 Discount received 1 800 Wages and salaries 26 000 Sundry expenses 34 000 Discount allowed 620 217 540 ======= 86 420 ======== Required: i Prepare the corrected trial balance at 31 December 2015. (7 marks) ii Show any difference you find as a balance on an appropriate account.
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