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Xyz Ltd invited application for 10,000 shares of Rs 10 each payable as follow :Rs 2 on application, Rs 3 on allotment ,Rs 2on first call and the balance on final call. All the shares were applied and alloted. All the money was duly received
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Xyz Ltd invited application for 10,000 shares of Rs 10 each payable ...
Explanation of the given scenario:
There are a few different parts to this scenario that need to be explained:
-Xyz Ltd has invited applications for 10,000 shares of Rs 10 each.
-The shares are payable in four installments: Rs 2 on application, Rs 3 on allotment, Rs 2 on first call, and the balance on final call.
-All the shares were applied for and allotted.
-All the money was received.
Payment Schedule for the Shares:
The payment schedule for the shares is as follows:
-Rs 2 on application
-Rs 3 on allotment
-Rs 2 on first call
-Balance on final call
Application and Allotment:
All the 10,000 shares were applied for and allotted. This means that all the applicants who applied for the shares were given them as per the allotment process.
Payment Received:
All the money was duly received. This means that the applicants have paid the amount due as per the payment schedule. The company has received Rs 20,000 (Rs 2 x 10,000 shares) on application, Rs 30,000 (Rs 3 x 10,000 shares) on allotment, Rs 20,000 (Rs 2 x 10,000 shares) on first call, and the balance on final call.
Conclusion:
From the above explanation, it is clear that Xyz Ltd has successfully issued and allotted 10,000 shares to the applicants. The company has also received all the money due from the applicants as per the payment schedule.
There are a few different parts to this scenario that need to be explained:
-Xyz Ltd has invited applications for 10,000 shares of Rs 10 each.
-The shares are payable in four installments: Rs 2 on application, Rs 3 on allotment, Rs 2 on first call, and the balance on final call.
-All the shares were applied for and allotted.
-All the money was received.
Payment Schedule for the Shares:
The payment schedule for the shares is as follows:
-Rs 2 on application
-Rs 3 on allotment
-Rs 2 on first call
-Balance on final call
Application and Allotment:
All the 10,000 shares were applied for and allotted. This means that all the applicants who applied for the shares were given them as per the allotment process.
Payment Received:
All the money was duly received. This means that the applicants have paid the amount due as per the payment schedule. The company has received Rs 20,000 (Rs 2 x 10,000 shares) on application, Rs 30,000 (Rs 3 x 10,000 shares) on allotment, Rs 20,000 (Rs 2 x 10,000 shares) on first call, and the balance on final call.
Conclusion:
From the above explanation, it is clear that Xyz Ltd has successfully issued and allotted 10,000 shares to the applicants. The company has also received all the money due from the applicants as per the payment schedule.
Community Answer
Xyz Ltd invited application for 10,000 shares of Rs 10 each payable ...
it is easy. just pass journal entries
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Xyz Ltd invited application for 10,000 shares of Rs 10 each payable as follow :Rs 2 on application, Rs 3 on allotment ,Rs 2on first call and the balance on final call. All the shares were applied and alloted. All the money was duly received
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Xyz Ltd invited application for 10,000 shares of Rs 10 each payable as follow :Rs 2 on application, Rs 3 on allotment ,Rs 2on first call and the balance on final call. All the shares were applied and alloted. All the money was duly received for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Xyz Ltd invited application for 10,000 shares of Rs 10 each payable as follow :Rs 2 on application, Rs 3 on allotment ,Rs 2on first call and the balance on final call. All the shares were applied and alloted. All the money was duly received covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Xyz Ltd invited application for 10,000 shares of Rs 10 each payable as follow :Rs 2 on application, Rs 3 on allotment ,Rs 2on first call and the balance on final call. All the shares were applied and alloted. All the money was duly received .
Xyz Ltd invited application for 10,000 shares of Rs 10 each payable as follow :Rs 2 on application, Rs 3 on allotment ,Rs 2on first call and the balance on final call. All the shares were applied and alloted. All the money was duly received for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Xyz Ltd invited application for 10,000 shares of Rs 10 each payable as follow :Rs 2 on application, Rs 3 on allotment ,Rs 2on first call and the balance on final call. All the shares were applied and alloted. All the money was duly received covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Xyz Ltd invited application for 10,000 shares of Rs 10 each payable as follow :Rs 2 on application, Rs 3 on allotment ,Rs 2on first call and the balance on final call. All the shares were applied and alloted. All the money was duly received .
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