Mathematics, 10.12.2020 16:10, Javanese5987

It is considered that such discount is included under the share allotment money] alls in Arrears
- 10. S. Co. Ltd. issued 8,000 shares of Rs. 10 each. The payments on these shares are to be made
in the following terms:
Application money
Rs. 2
Allotment money
Rs. 3
First call money
Rs. 2
op
Final call money
Rs. 3
All shares were applied for and allotted. All money was duly received. However, a
shareholder of 500 shares failed to pay the money due on first call and final call.
Required: Journal entries to record above transactions.
Ans: Calls in arrear: First call = Rs. 1,000; Final call = Rs. 1,500

Answers: 2

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It is considered that such discount is included under the share allotment money] alls in Arrears