State the reason why a partner’s wife loan is transferred to Realisation A/c? Post category:Accountancy Reading time:1 mins read SOLUTION Wife Loan is an outside liability. 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 PostWhat entry is passed when an asset is given to a Creditor in full settlement of his dues? Next PostWhy partner’s loan is not transferred to Realisation A/c? You Might Also Like Madanlal Ltd has authorised share capital of Rs. 50,00,000 divided into 5,00,000 Equity Shares of Rs. 10 each. It has existing issued and paid up capital of Rs. 5,00,000. It further issued to public 1,50,000 Equity Shares at par for subscription payable as under: July 9, 2022 Why is Realisation Account prepared? September 27, 2022 The Hindustan Manufacturing Ltd. had a total subscribed capital of Rs. 10,00,000 in Equity Shares of Rs. 10 each of which Rs. 7.50 were called-up. A final call of Rs. 2.50 was made and all amount paid except two calls of Rs. 2.50 each in respect of 100 shares held by D. These shares were forfeited and reissued at Rs. 8 per share. Pass necessary journal entries (including that of cash) to record the transactions of final call, forfeiture of shares and reissue of forfeited shares. Also, prepare the Balance Sheet of the company. July 14, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Madanlal Ltd has authorised share capital of Rs. 50,00,000 divided into 5,00,000 Equity Shares of Rs. 10 each. It has existing issued and paid up capital of Rs. 5,00,000. It further issued to public 1,50,000 Equity Shares at par for subscription payable as under: July 9, 2022
The Hindustan Manufacturing Ltd. had a total subscribed capital of Rs. 10,00,000 in Equity Shares of Rs. 10 each of which Rs. 7.50 were called-up. A final call of Rs. 2.50 was made and all amount paid except two calls of Rs. 2.50 each in respect of 100 shares held by D. These shares were forfeited and reissued at Rs. 8 per share. Pass necessary journal entries (including that of cash) to record the transactions of final call, forfeiture of shares and reissue of forfeited shares. Also, prepare the Balance Sheet of the company. July 14, 2022
