Rakesh Ltd. issued to public 5,000 equity shares of 100 each at a premium of 10 per

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Rakesh Ltd. issued to public 5,000 equity shares of ₹100 each at a premium of ₹10 per share payable as follows:

On application ₹20

On allotment ₹40

On 1^st and final call ₹50

Applications were received for 4,000 shares and all were accepted. All moneys due were fully received except the 1^st and final call on 300 shares. Pass journal entries and prepare the balance sheet.

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Corporate Accounting

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Authors: Anita Raman, P. Radhika

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Question Posted: Aug 30, 2023 06:55 AM

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Rakesh Ltd. issued to public 5,000 equity shares of 100 each at a premium of 10 per

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Balance Sheet of Rakesh Ltd Liabilities Share Capital Equity Share Capital 5000 shar...View the full answer

Corporate Accounting

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