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

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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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Corporate Accounting

ISBN: 9789353160739

1st Edition

Authors: Anita Raman, P. Radhika

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Question Posted: Aug 31, 2023 04:48 AM

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

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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

Corporate Accounting

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