Sharad Singh Company Ltd. has been incorporated with an authorised capital of Rs.10,00,000 divided into 10,000...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Sharad Singh Company Ltd. has been incorporated with an authorised capital of Rs.10,00,000 divided into 10,000 equity shares of Rs.100 each. The company issued 5,000 shares to the public payable Rs.20 per share on application, Rs.20 per share on allotment, Rs.30 per share on first call and the balance on the final call. All the money was duly received. Make Journal entries to record the issues of share. Also prepare Bank Account and the Balance Sheet. Sharad Singh Company Ltd. has been incorporated with an authorised capital of Rs.10,00,000 divided into 10,000 equity shares of Rs.100 each. The company issued 5,000 shares to the public payable Rs.20 per share on application, Rs.20 per share on allotment, Rs.30 per share on first call and the balance on the final call. All the money was duly received. Make Journal entries to record the issues of share. Also prepare Bank Account and the Balance Sheet.
Expert Answer:
Answer rating: 100% (QA)
Journal entries for the following transactions are recorded as follows Ba... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Assignment 3 Abc Corporation paid $300,000 for 90% of the outstanding voting common stock of SIM Corporation on January 2, 2011 when the book value of SIM net assets was $200,000. The fair values of...
-
Refer to Exercise 54 (Plexon Tires). Use the p value approach to answer the following questions. In exercise Plexon Tire and Rubber Company claims that its Delton III tires have an average life of at...
-
Answer the following questions. a. Office Supplies has assets equal to $137,000 and liabilities equal to $110,000 at year-end. What is the total equity for Office Supplies at year-end? b. At the...
-
Evaluate the cube root of = 27cis (240). Then raise them to the cube. Show the steps of your reasoning.
-
Identify a current political leader (e.g., prime minister, president, premier, mayor) and his or her recent accomplishments. Now, using the implicit leadership perspective, think of ways that these...
-
Two particles are attached to an x axis: particle 1 of charge 2.00 107 C at x = 6.00 cm, particle 2 of charge +2.00 107 C at x = 21.0 cm. Midway between the particles, what is their net electric...
-
The fluid axial velocities shown in Fig. P5.7 are the average velocities measured in \(\mathrm{ft} / \mathrm{s}\) in each annular area of a duct. Find the volume flowrate for the flowing fluid....
-
Chief executive officer compensation can be a material amount and is often scrutinized by regulators, analysts, competitors, and investors. For CEOs of publicly traded companies, compensation can...
-
Demanding Nursing profession. It has become an especially challenging hiring and ongoing management category in recent years. Covid, overall workload demands, advanced education requirements, and...
-
8.1 Create a one-way data table for profit at different levels of supplier contact in range B22:C33. Ensure that the price in cell C3 is $290 and the advertising budget in cell C5 is $35,000,000 (you...
-
What part of the spectra out provides information about the identity of the compound? Molar Absorptivity, Transmission , Absorbance, Wavelength What part of the spectra out provides information about...
-
Explain how a monopsonist operates in the labor market, and illustrate your explanation with an example.
-
Bigness was no offense was the underpinning of the ______________.
-
In 1911 the Supreme Court broke up the ___________ trust into three component parts: (1) ____________________; (2) ________________; and (3) ____________.
-
The acquisitions of Time by Warner and ABC by Walt Disney were examples of _________mergers. a) horizontal b) vertical c) conglomerate
-
Which statement is true? a) Microsoft is subject to American antitrust laws, but not those of Europe, Asia, or elsewhere. b) Microsoft has never been involved in an antitrust suit. c) The European...
-
Some degree of vertical hierarchy is often needed to provide a framework in which to accomplish tasks. However, an organization's vertical structure needs to be balanced with horizontal mechanisms....
-
Velshi Printers has contracts to complete weekly supplements required by fortysix customers. For the year 2018, manufacturing overhead cost estimates total $600,000 for an annual production capacity...
-
Lowes Construction began operations on December 1. In setting up its accounting procedures, the company decided to debit expense accounts when it prepays its expenses and to credit revenue accounts...
-
All business decisions involve aspects of risk and return. Required Identify both the risk and the return in each of the following activities: 1. Investing $10,000 in Yahoo! stock. 2. Placing a...
-
Malox Co. purchased short-term investments in available-for-sale securities at a cost of $100,000 on November 25, 2009. At December 31, 2009, these securities had a fair value of $94,000. This is the...
-
Assume the same facts as in Problem 42. Further assume that next year, Gary sells the SUV for $20,000. a. How much depreciation expense can Gary deduct as a business deduction with respect to the SUV...
-
Describe how liabilities are reported and analyzed.
-
Assume the same facts as in Problem 29, except that Sally has AGI of \($75,000.\) What is her qualified student loan interest deduction in 2019? Problem 29, In 2019, Sally Morris, a single taxpayer,...
Study smarter with the SolutionInn App