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X Ltd. issued 10,000 equity shares of 10 each. The issue was underwritten as follows: A: 30%; B: 30%; C:

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X Ltd. issued 10,000 equity shares of ₹10 each. The issue was underwritten as follows: 

A: 30%; 

B: 30%; 

C: 20%:

However, the company received applications for 8,000 shares only. Determine the liability of the respective underwriters and write the journal entries in the company’s books.

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To calculate the liability of each underwriter we need to determine the portion of shares that each …View the full answer


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Corporate Accounting

Corporate Accounting

ISBN: 9789353160739

1st Edition

Authors: Anita Raman, P. Radhika

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Question Details
Chapter # 2- UNDERWRITING OF SHARES AND DEBENTURES,,
Section: OTHER EXERCISES
Problem: 11
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Question Posted: August 31, 2023 04:48:01
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