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प्रश्न
What is meant by calls in arrear?
उत्तर
When a shareholder fails to pay the amount due on the allotment or on calls, the amount remaining unpaid is known as calls in arrears.
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संबंधित प्रश्न
The amount received over and above the par value is credited to
Which of the following statement is false?
Sampath company issued 25,000 shares at ₹ 10 per share payable ₹ 3 on the application, ₹ 4 on allotment; ₹ 3 on first and final call. The public subscribed for 24,000 shares. The directors allotted all the 24,000 shares and received the money duly. Pass necessary journal entries.
Write a short note on the securities premium account.
Why are the shares forfeited?
Lalitha Ltd. offered 30,000 equity shares ₹10 each to the public payable ₹ 2 per share on the application, ₹ 3 on share allotment, and the balance when required. Applications for 50,0 shares were received on which directors allotted as:
Applicants for 10,000 shares Full
Applicants for 35,000 shares 20,000 shares (excess money will be utilized for allotment
Applicants for 5,000 shares Nil
All the money due was received. Pass journal entries upto the receipt of allotment.
Anjali Flour Ltd. with a registered capital of ₹ 4,00,000 in equity shares of ₹ 10 each, issued 30,0 of such shares; payable ₹ 2 per share on the application, ₹ 5 per share on the allotment, and ₹ 3 shares on the first call. The issue was duly subscribed.
All the money payable was duly received but on the allotment, one shareholder paid the entire balance on his holding of 500 shares. Give journal entries to record the I transactions.
Muthu Ltd. issued 50,000 shares of ₹ 10 each payable as follows; ₹ 2 on the application; ₹ 4 on allotment; ₹ 4 on first and final, call.
All money payable was duly received except one shareholder holding 1,000 shares failed to pay the call money. Pass the necessary journal entries for calls by using calls in the arear account.
Simon Ltd issued 50,000 equity shares of ₹ 10 each at par payable on-application ₹ 1 per share, on allotment ₹ 5 per share, on first call ₹ 2 per share, and on second and final call ₹ 2 per share. The issue was fully subscribed and all the amounts were duly received with exception of 2,000 shares held by chezhian, who failed to pay the second and final call. His shares were forfeited and reissued to Elango at ₹ 8 per share. Journalise the above transactions?
Kanchana Ltd. issued 50,000 shares ₹ 10 each payable as under?
On application ₹ 1
On allotment ₹ 5
On first call ₹ 2
On final call ₹ 2
Applications were received for 70,000 shares. Applications for 8,000 shares were rejected and allotment was made proportionately towards the remaining applications. The directories made both the calls and all the amounts were received except the final call on 1,500 shares which were subsequently forfeited. Later 1.200 forfeited shares were reissued by receiving ₹ 8 per share. Give journal entries.
