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On 1st January,2018 X Company Ltd. offered 40,000 equity shares of Rs 10 each at a premium of Rs 1 each for public subscription, applications were received for 1,10,000 shares and the Directors decided not to reject outright any application and to ALLOT on 14th March, 2018 the shares in the following manner-(A)  10,000 shares to applicants for 55,000 shares(B)  17,000 shares to applicants for 40,000 shares(C) 13,000 shares to other applicants on pro-rata basis.After retaining the amounts payable on allottment in respect of shares allotted on pro-rata basis oy, the balance sum received from these shareholders as application money was refunded to them by 31st March, 2018. Amount due on the shares was recoverable as follows-With application- Rs 3On Allottment- Rs 2 due on 20th April, 2018 including premiumOn First Call- Rs 3 due on 30th June,2018On Final Call- Rs 3 not yet calledOn 30th June,2018 all moneys excepting the following were received-Shri Onkar Nath ( category B)failed to pay the sum due on allottment of 300 shares and Shri Som Nath ( Category C ) who applied for 750 shares failed to pay the sum due on allottment.On 15th July,2018 shares allotted to Shri Onkar Nath and Shri Som Nath were duly forfeited and on 2nd August,2018,  850 of these shares were issued to Shri Ranjan Verna for cash at Rs 8 each fully paid up including 300 shares of Shri Onkar Nath. You are required to pass the Journal Entries.ANS- Amount received on allottment including premium- Rs 72,400.My ans is not coming. Pls solve it Related: Forfeiture and Reissue of Shares - Advanced Corporate Accounting? Related: Introduction to Issue of Shares for B Com Class 1? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about On 1st January,2018 X Company Ltd. offered 40,000 equity shares of Rs 10 each at a premium of Rs 1 each for public subscription, applications were received for 1,10,000 shares and the Directors decided not to reject outright any application and to ALLOT on 14th March, 2018 the shares in the following manner-(A)  10,000 shares to applicants for 55,000 shares(B)  17,000 shares to applicants for 40,000 shares(C) 13,000 shares to other applicants on pro-rata basis.After retaining the amounts payable on allottment in respect of shares allotted on pro-rata basis oy, the balance sum received from these shareholders as application money was refunded to them by 31st March, 2018. Amount due on the shares was recoverable as follows-With application- Rs 3On Allottment- Rs 2 due on 20th April, 2018 including premiumOn First Call- Rs 3 due on 30th June,2018On Final Call- Rs 3 not yet calledOn 30th June,2018 all moneys excepting the following were received-Shri Onkar Nath ( category B)failed to pay the sum due on allottment of 300 shares and Shri Som Nath ( Category C ) who applied for 750 shares failed to pay the sum due on allottment.On 15th July,2018 shares allotted to Shri Onkar Nath and Shri Som Nath were duly forfeited and on 2nd August,2018,  850 of these shares were issued to Shri Ranjan Verna for cash at Rs 8 each fully paid up including 300 shares of Shri Onkar Nath. You are required to pass the Journal Entries.ANS- Amount received on allottment including premium- Rs 72,400.My ans is not coming. Pls solve it Related: Forfeiture and Reissue of Shares - Advanced Corporate Accounting? Related: Introduction to Issue of Shares for B Com Class 1? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1st January,2018 X Company Ltd. offered 40,000 equity shares of Rs 10 each at a premium of Rs 1 each for public subscription, applications were received for 1,10,000 shares and the Directors decided not to reject outright any application and to ALLOT on 14th March, 2018 the shares in the following manner-(A)  10,000 shares to applicants for 55,000 shares(B)  17,000 shares to applicants for 40,000 shares(C) 13,000 shares to other applicants on pro-rata basis.After retaining the amounts payable on allottment in respect of shares allotted on pro-rata basis oy, the balance sum received from these shareholders as application money was refunded to them by 31st March, 2018. Amount due on the shares was recoverable as follows-With application- Rs 3On Allottment- Rs 2 due on 20th April, 2018 including premiumOn First Call- Rs 3 due on 30th June,2018On Final Call- Rs 3 not yet calledOn 30th June,2018 all moneys excepting the following were received-Shri Onkar Nath ( category B)failed to pay the sum due on allottment of 300 shares and Shri Som Nath ( Category C ) who applied for 750 shares failed to pay the sum due on allottment.On 15th July,2018 shares allotted to Shri Onkar Nath and Shri Som Nath were duly forfeited and on 2nd August,2018,  850 of these shares were issued to Shri Ranjan Verna for cash at Rs 8 each fully paid up including 300 shares of Shri Onkar Nath. You are required to pass the Journal Entries.ANS- Amount received on allottment including premium- Rs 72,400.My ans is not coming. Pls solve it Related: Forfeiture and Reissue of Shares - Advanced Corporate Accounting? Related: Introduction to Issue of Shares for B Com Class 1?.

Solutions for On 1st January,2018 X Company Ltd. offered 40,000 equity shares of Rs 10 each at a premium of Rs 1 each for public subscription, applications were received for 1,10,000 shares and the Directors decided not to reject outright any application and to ALLOT on 14th March, 2018 the shares in the following manner-(A)  10,000 shares to applicants for 55,000 shares(B)  17,000 shares to applicants for 40,000 shares(C) 13,000 shares to other applicants on pro-rata basis.After retaining the amounts payable on allottment in respect of shares allotted on pro-rata basis oy, the balance sum received from these shareholders as application money was refunded to them by 31st March, 2018. Amount due on the shares was recoverable as follows-With application- Rs 3On Allottment- Rs 2 due on 20th April, 2018 including premiumOn First Call- Rs 3 due on 30th June,2018On Final Call- Rs 3 not yet calledOn 30th June,2018 all moneys excepting the following were received-Shri Onkar Nath ( category B)failed to pay the sum due on allottment of 300 shares and Shri Som Nath ( Category C ) who applied for 750 shares failed to pay the sum due on allottment.On 15th July,2018 shares allotted to Shri Onkar Nath and Shri Som Nath were duly forfeited and on 2nd August,2018,  850 of these shares were issued to Shri Ranjan Verna for cash at Rs 8 each fully paid up including 300 shares of Shri Onkar Nath. You are required to pass the Journal Entries.ANS- Amount received on allottment including premium- Rs 72,400.My ans is not coming. Pls solve it Related: Forfeiture and Reissue of Shares - Advanced Corporate Accounting? Related: Introduction to Issue of Shares for B Com Class 1? in English & in Hindi are available as part of our courses for B Com. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free.

Here you can find the meaning of On 1st January,2018 X Company Ltd. offered 40,000 equity shares of Rs 10 each at a premium of Rs 1 each for public subscription, applications were received for 1,10,000 shares and the Directors decided not to reject outright any application and to ALLOT on 14th March, 2018 the shares in the following manner-(A)  10,000 shares to applicants for 55,000 shares(B)  17,000 shares to applicants for 40,000 shares(C) 13,000 shares to other applicants on pro-rata basis.After retaining the amounts payable on allottment in respect of shares allotted on pro-rata basis oy, the balance sum received from these shareholders as application money was refunded to them by 31st March, 2018. Amount due on the shares was recoverable as follows-With application- Rs 3On Allottment- Rs 2 due on 20th April, 2018 including premiumOn First Call- Rs 3 due on 30th June,2018On Final Call- Rs 3 not yet calledOn 30th June,2018 all moneys excepting the following were received-Shri Onkar Nath ( category B)failed to pay the sum due on allottment of 300 shares and Shri Som Nath ( Category C ) who applied for 750 shares failed to pay the sum due on allottment.On 15th July,2018 shares allotted to Shri Onkar Nath and Shri Som Nath were duly forfeited and on 2nd August,2018,  850 of these shares were issued to Shri Ranjan Verna for cash at Rs 8 each fully paid up including 300 shares of Shri Onkar Nath. You are required to pass the Journal Entries.ANS- Amount received on allottment including premium- Rs 72,400.My ans is not coming. Pls solve it Related: Forfeiture and Reissue of Shares - Advanced Corporate Accounting? Related: Introduction to Issue of Shares for B Com Class 1? defined & explained in the simplest way possible. Besides giving the explanation of On 1st January,2018 X Company Ltd. offered 40,000 equity shares of Rs 10 each at a premium of Rs 1 each for public subscription, applications were received for 1,10,000 shares and the Directors decided not to reject outright any application and to ALLOT on 14th March, 2018 the shares in the following manner-(A)  10,000 shares to applicants for 55,000 shares(B)  17,000 shares to applicants for 40,000 shares(C) 13,000 shares to other applicants on pro-rata basis.After retaining the amounts payable on allottment in respect of shares allotted on pro-rata basis oy, the balance sum received from these shareholders as application money was refunded to them by 31st March, 2018. Amount due on the shares was recoverable as follows-With application- Rs 3On Allottment- Rs 2 due on 20th April, 2018 including premiumOn First Call- Rs 3 due on 30th June,2018On Final Call- Rs 3 not yet calledOn 30th June,2018 all moneys excepting the following were received-Shri Onkar Nath ( category B)failed to pay the sum due on allottment of 300 shares and Shri Som Nath ( Category C ) who applied for 750 shares failed to pay the sum due on allottment.On 15th July,2018 shares allotted to Shri Onkar Nath and Shri Som Nath were duly forfeited and on 2nd August,2018,  850 of these shares were issued to Shri Ranjan Verna for cash at Rs 8 each fully paid up including 300 shares of Shri Onkar Nath. You are required to pass the Journal Entries.ANS- Amount received on allottment including premium- Rs 72,400.My ans is not coming. Pls solve it Related: Forfeiture and Reissue of Shares - Advanced Corporate Accounting? Related: Introduction to Issue of Shares for B Com Class 1?, a detailed solution for On 1st January,2018 X Company Ltd. offered 40,000 equity shares of Rs 10 each at a premium of Rs 1 each for public subscription, applications were received for 1,10,000 shares and the Directors decided not to reject outright any application and to ALLOT on 14th March, 2018 the shares in the following manner-(A)  10,000 shares to applicants for 55,000 shares(B)  17,000 shares to applicants for 40,000 shares(C) 13,000 shares to other applicants on pro-rata basis.After retaining the amounts payable on allottment in respect of shares allotted on pro-rata basis oy, the balance sum received from these shareholders as application money was refunded to them by 31st March, 2018. Amount due on the shares was recoverable as follows-With application- Rs 3On Allottment- Rs 2 due on 20th April, 2018 including premiumOn First Call- Rs 3 due on 30th June,2018On Final Call- Rs 3 not yet calledOn 30th June,2018 all moneys excepting the following were received-Shri Onkar Nath ( category B)failed to pay the sum due on allottment of 300 shares and Shri Som Nath ( Category C ) who applied for 750 shares failed to pay the sum due on allottment.On 15th July,2018 shares allotted to Shri Onkar Nath and Shri Som Nath were duly forfeited and on 2nd August,2018,  850 of these shares were issued to Shri Ranjan Verna for cash at Rs 8 each fully paid up including 300 shares of Shri Onkar Nath. You are required to pass the Journal Entries.ANS- Amount received on allottment including premium- Rs 72,400.My ans is not coming. Pls solve it Related: Forfeiture and Reissue of Shares - Advanced Corporate Accounting? Related: Introduction to Issue of Shares for B Com Class 1? has been provided alongside types of On 1st January,2018 X Company Ltd. offered 40,000 equity shares of Rs 10 each at a premium of Rs 1 each for public subscription, applications were received for 1,10,000 shares and the Directors decided not to reject outright any application and to ALLOT on 14th March, 2018 the shares in the following manner-(A)  10,000 shares to applicants for 55,000 shares(B)  17,000 shares to applicants for 40,000 shares(C) 13,000 shares to other applicants on pro-rata basis.After retaining the amounts payable on allottment in respect of shares allotted on pro-rata basis oy, the balance sum received from these shareholders as application money was refunded to them by 31st March, 2018. Amount due on the shares was recoverable as follows-With application- Rs 3On Allottment- Rs 2 due on 20th April, 2018 including premiumOn First Call- Rs 3 due on 30th June,2018On Final Call- Rs 3 not yet calledOn 30th June,2018 all moneys excepting the following were received-Shri Onkar Nath ( category B)failed to pay the sum due on allottment of 300 shares and Shri Som Nath ( Category C ) who applied for 750 shares failed to pay the sum due on allottment.On 15th July,2018 shares allotted to Shri Onkar Nath and Shri Som Nath were duly forfeited and on 2nd August,2018,  850 of these shares were issued to Shri Ranjan Verna for cash at Rs 8 each fully paid up including 300 shares of Shri Onkar Nath. You are required to pass the Journal Entries.ANS- Amount received on allottment including premium- Rs 72,400.My ans is not coming. Pls solve it Related: Forfeiture and Reissue of Shares - Advanced Corporate Accounting? Related: Introduction to Issue of Shares for B Com Class 1? theory, EduRev gives you an ample number of questions to practice On 1st January,2018 X Company Ltd. offered 40,000 equity shares of Rs 10 each at a premium of Rs 1 each for public subscription, applications were received for 1,10,000 shares and the Directors decided not to reject outright any application and to ALLOT on 14th March, 2018 the shares in the following manner-(A)  10,000 shares to applicants for 55,000 shares(B)  17,000 shares to applicants for 40,000 shares(C) 13,000 shares to other applicants on pro-rata basis.After retaining the amounts payable on allottment in respect of shares allotted on pro-rata basis oy, the balance sum received from these shareholders as application money was refunded to them by 31st March, 2018. Amount due on the shares was recoverable as follows-With application- Rs 3On Allottment- Rs 2 due on 20th April, 2018 including premiumOn First Call- Rs 3 due on 30th June,2018On Final Call- Rs 3 not yet calledOn 30th June,2018 all moneys excepting the following were received-Shri Onkar Nath ( category B)failed to pay the sum due on allottment of 300 shares and Shri Som Nath ( Category C ) who applied for 750 shares failed to pay the sum due on allottment.On 15th July,2018 shares allotted to Shri Onkar Nath and Shri Som Nath were duly forfeited and on 2nd August,2018,  850 of these shares were issued to Shri Ranjan Verna for cash at Rs 8 each fully paid up including 300 shares of Shri Onkar Nath. You are required to pass the Journal Entries.ANS- Amount received on allottment including premium- Rs 72,400.My ans is not coming. Pls solve it Related: Forfeiture and Reissue of Shares - Advanced Corporate Accounting? Related: Introduction to Issue of Shares for B Com Class 1? tests, examples and also practice B Com tests.