Classify debentures from the point of view of registration. Post category:Accountancy Reading time:1 mins read SOLUTION (i) Registered Debentures, (ii) Bearer Debentures. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostClassify debentures from the point of view of security. Next PostClassify debentures from the point of view of redemption. You Might Also Like On dissolution of a firm, out of the proceeds received from the sale of assets Who will be paid last of all? September 27, 2022 Max Ltd. invited applications for 2,00,000 Equity Shares of Rs. 10 each to be issued at 20% premium. The money payable per shares was: on application Rs. 5, on allotment Rs. 4 (including premium of Rs. 2), first call Rs. 2 and final call Rs. 1, Applications were received for 2,40,000 shares and allotment was made as: (i) to applicants for 1,00,000 shares— in full, (ii) to applicants for 80,000 shares—60,000 shares, (iii) to applicants for 60,000 shares—40,000 shares. Applicants of 1,000 shares falling in Category (i) and applicants of 1,200 shares falling in Category (ii) failed to pay allotment money. These shares were forfeited on failure to pay first call. Holders of 1,200 shares falling in Category (iii) failed to pay the first and final call and these shares were forfeited after final call. 1,300 shares [1,000 of Category(i) and 300 of Category (ii)] were reissued at Rs. 8 per share as fully paid-up. Journalise the above transactions. Prepare Cash book and Balance Sheet. July 15, 2022 What is the nature of Interest on Debentures? September 29, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
On dissolution of a firm, out of the proceeds received from the sale of assets Who will be paid last of all? September 27, 2022
Max Ltd. invited applications for 2,00,000 Equity Shares of Rs. 10 each to be issued at 20% premium. The money payable per shares was: on application Rs. 5, on allotment Rs. 4 (including premium of Rs. 2), first call Rs. 2 and final call Rs. 1, Applications were received for 2,40,000 shares and allotment was made as: (i) to applicants for 1,00,000 shares— in full, (ii) to applicants for 80,000 shares—60,000 shares, (iii) to applicants for 60,000 shares—40,000 shares. Applicants of 1,000 shares falling in Category (i) and applicants of 1,200 shares falling in Category (ii) failed to pay allotment money. These shares were forfeited on failure to pay first call. Holders of 1,200 shares falling in Category (iii) failed to pay the first and final call and these shares were forfeited after final call. 1,300 shares [1,000 of Category(i) and 300 of Category (ii)] were reissued at Rs. 8 per share as fully paid-up. Journalise the above transactions. Prepare Cash book and Balance Sheet. July 15, 2022
