A company issued 10,000 debentures of Rs.100 each for subscription. Debenture moneys are payable as Rs.30 on application, Rs.40 on allotment, Rs.20 on first call and Rs.10 on final call. A person who holds 200 debentures fails to pay the amount due at the time of allotment. He however pays this amount with the first call money. Another person, who is holding 400 debentures, has paid all the calls in advance at the time of allotment. Give journal entries in the books of company
A company issued 10,000 debentures of Rs.100 each for subscription. Debenture moneys are payable as Rs.30 on application, Rs.40 on allotment, Rs.20 on first call and Rs.10 on final call. A person who holds 200 debentures fails to pay the amount due at the time of allotment. He however pays this amount with the first call money. Another person, who is holding 400 debentures, has paid all the calls in advance at the time of allotment. Give journal entries in the books of company
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
A company issued 10,000 debentures of Rs.100
each for subscription. Debenture moneys are
payable as Rs.30 on application, Rs.40 on
allotment, Rs.20 on first call and Rs.10 on final
call. A person who holds 200 debentures fails to
pay the amount due at the time of allotment. He
however pays this amount with the first call
money. Another person, who is holding 400
debentures, has paid all the calls in advance at the
time of allotment.
Give
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