On 1st June, 2020, Suraj Ltd. issued 43,000 shares of 100 each payable as follows: *20...
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On 1st June, 2020, Suraj Ltd. issued 43,000 shares of 100 each payable as follows: *20 on application; *20 on allotment; First call of 30 on 1st Dec, 2020; and Second and final call of 30 on 1st March, 2021. By 20th July, 40,000 shares were applied for and all applications were accepted. Allotment was made on 1st Aug. All sums due on allotment were received on 15th Sept; those on 1st call were received on 20th Dec. You are required to journalise the transactions when accounts were closed on 31st March, 2021 On 1st June, 2020, Suraj Ltd. issued 43,000 shares of 100 each payable as follows: *20 on application; *20 on allotment; First call of 30 on 1st Dec, 2020; and Second and final call of 30 on 1st March, 2021. By 20th July, 40,000 shares were applied for and all applications were accepted. Allotment was made on 1st Aug. All sums due on allotment were received on 15th Sept; those on 1st call were received on 20th Dec. You are required to journalise the transactions when accounts were closed on 31st March, 2021
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Related Book For
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas
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