Sun Ltd of Shimoga Ltd issued 5000 shares of Rs. 100 each. The amount was payable Rs. 30 on application Rs. 20 on allotment Rs. 30 on first call Ra. 20 on final call All the shares were subscribed & the money duely received expect the final call on 400 shares. The director s decided to forfeit these shares & reissued them at Rs. 70 per share fully paid up. Pass the journal entries to record the above trans actions in the books of company please didu please solve this sum
Hello It would be very difficult to write all entries here. So rather - check out the videos and try to solve the sum. If any doubt regarding any entry or amount - do ask here. This session will help you: ruclips.net/video/MCcLyYdcJY0/видео.html
Sorry we are unable to understand what is exactly the doubt. Premium is when the shares are issued at a price higher than the face value and at discount when shares issue price is lower than the face value.
Basically we cannot issue shares at discount as per legal provision. So when we are forfeiting the shares for non payment of amount- we do not give back that part amount which we have received and which is transferred to forfeiture account and while reissue of the same share we can utilize the forfeiture balance to give discount because that much amount has been received and upto that balance if I give discount that will not be discount issue and not prohibited. So, in reissue, discount is utilized from forfeiture which is amount received from original shareholder.
![[#3] Company Accounts Issue of Shares - Calls in Advance||Forfeiture & Reissue of shares||Prorata](http://i.ytimg.com/vi/Fao1vkldkFE/mqdefault.jpg)
You can Buy our Chartbook...
Class 11-bit.ly/2ZKC8Fh
Class 12-bit.ly/2FcsNN1
Get 60% OFF on Bulk Purchases..!!
Well explained and really good way of teaching through examples of diff cases, i wasnt doing it right all the time until i saw this vid
Happy to Know that the videos was helpful to you
Thanc u
Today i got something just because its in english .
Thank you so much for the appreciating comment.
Mam i need to clear more doubts hw can i connect with u
You can post in comment section.
Thankinggg youuu!
Awesome explanation
Very clearly explained
Thank you for your appreciating comment. Keep watching, Keep learning!
Thank you so much
Thank you for watching. There are some more videos on this topic uploaded on the channel. Do check that.
Thanksss
Thank for watching...keep watching keep learning.
Amazing Video
Thank you for your comment. Please do try them. Good luck!
nicely explained...
Thank You, Your comment is valuable for us
Nice video sister
Thank You, Your comment is valuable for us
Issue of shares at discount teach maam
Reissue of share at discount ka video upload kijiye
Thank you for your suggestion. We'll try our best
ruclips.net/video/MCcLyYdcJY0/видео.html - Issue of shares
In this video also there are different cases where shares have been reissued at discount.
Sun Ltd of Shimoga Ltd issued 5000 shares of Rs. 100 each. The amount was payable
Rs. 30 on application
Rs. 20 on allotment
Rs. 30 on first call
Ra. 20 on final call
All the shares were subscribed & the money duely received expect the final call on 400 shares. The director s decided to forfeit these shares & reissued them at Rs. 70 per share fully paid up. Pass the journal entries to record the above trans actions in the books of company please didu please solve this sum
Hello
It would be very difficult to write all entries here. So rather - check out the videos and try to solve the sum. If any doubt regarding any entry or amount - do ask here.
This session will help you: ruclips.net/video/MCcLyYdcJY0/видео.html
Mam plzzzz tell me premium shares and discount plzzzzz
Sorry we are unable to understand what is exactly the doubt. Premium is when the shares are issued at a price higher than the face value and at discount when shares issue price is lower than the face value.
Nice Girl 👍
Thank You, for liking our video
Why are we utilising discount amount from forfeiture account
Basically we cannot issue shares at discount as per legal provision. So when we are forfeiting the shares for non payment of amount- we do not give back that part amount which we have received and which is transferred to forfeiture account and while reissue of the same share we can utilize the forfeiture balance to give discount because that much amount has been received and upto that balance if I give discount that will not be discount issue and not prohibited. So, in reissue, discount is utilized from forfeiture which is amount received from original shareholder.
I hope you doubt is clear, if not please let us know.