wonder ltd issued 10 000 12 preference shares of rs 100 each at a premium of rs 10 p 674525
Wonder Ltd. issued 10,000, 12% Preference Shares of Rs.100 each at a premium of Rs.10 per share payable as follows:
|
On Application |
Rs.30 |
|
On Allotment |
Rs.30 (including premium |
|
On First Call |
Rs.25 |
|
On Final Call |
Rs.25 |
The application were received for 12,000 shares and the directors allotted 10,000 shares and rejected 2,000 shares with the money received thereon refunded.
The allotment money was duly received while the first call money was received on 9,000 shares and the final call money on 8,000 shares.
Show the cash book and journal entries and prepare the balance sheet of the company.