Issue Of Shares At A Discount

Issue Of Debentures At Discount

Issue Of Shares In A Premium

Issue Of Shares For Consideration Other Than Cash

(Issue of Shares to Promoters and Underwriters). Dee Ltd. issued 2,500 shares of Rs. 10 each credited as fully paid to the promoters for the services rendered to incorporate the company and also issued 2,000 shares of Rs. 10 each credited as fully paid to the underwriters for their underwriting services. Journalise these transactions.

Paliwal Exports Ltd. with a share capital of Rs. 10,000 divided into 20,000 shares of Rs. 50 each offers the shares to the public as under : Rs. 15 per share payable on application, Rs. 15 per share payable on allotment, Rs. 10 per share payable on Ist call, and Rs. 10 per share payable on second call. Shareholder 'A' who holds 200 shares has paid only the application money. Shareholder 'B' who holds 300 shares has paid only the application and allotment money. Shareholder 'C' who holds 400 shares has paid application, allotment and first call money. The company forfeits the shares of the above shareholders who have not paid the arrears and re-issued 600 of these shares at a discount of 20%. Journalise the above transactions including entries relating to Bank in the books of Paliwal Exports Ltd.