LIC IPO Failed: Hold or Sell? | #FinShorts260

Narmada Limited was registered with an Authorised Capital of Rs. 5,00,000 in Rs. 10 shares. Company purchased an Asset for Rs. 2,00,000 and issued fully paid shares for it. Balance 30,000 shares were issued to the public, payable as follows : {:("On Application & Allotment","Rs. 3"),("On First Call","Rs. 4"),("On Second Call","Rs. 3"):} Govind, holding 100 shares failed to pay the First Call money and his shares were forfeited after the First Call. Gopal, holding 200 shares failed to pay the Second Call and his shares were also forfeited. Pass Journal Entries.

XYZ Limited has an aAuthorised Capital of Rs. 4,00,000 divided into shares of Rs. 20 each, the whole of which is issued and subscribed at a premium of Rs. 2 per share. The amount was payable as follows : On Application and Allotment : Rs. 10 per share, On 1st Call Rs. 4 per share (including premium) and the balance as and when required. The company made both the calls. The application and allotment money was duly received. But a shareholder holding 2,00 shares failed to pay both the calls and his shares were forfeited. These shares were later re-issued at Rs. 14 per share as fully paid. Give journal entries regarding the above.

Sukanya Ltd. invited applications for issuing 1,00,000 equity shares of Rs. 10 each. The shares were issued at a premium of Rs. 20 per share. The amount was payable as follows: {:("On Application and Allotment",-,"Rs. 14 per share (including premium of Rs. 10),"),("On First Call",-,"Rs. 8 per share (including premium of Rs. 5),"),("On Final Call",-,"Rs. 8 per share (including premium of Rs. 5)."):} Application for 96,000 shares were received. Rohit, a shareholder holding 7,000 shares, failed to pay both the calls and Namit, a holder of 5,000 shares, did not pay the final call. Shares of Rohit and Namit were forfeited . Of the forfeited shares, 8,000 shares including all the shares of Rohit were reissued to Reena at Rs. 8 per share fully paid-up. Pass necessary Journal entries fot the above transactions in the books of Sukanya Ltd.

Read the following statements and select the correct option. Statement 1 : When the immune system fails to recognise 'sell' from 'nonself' and starts destroying body's own proteins, this leads to auto-immune diseases. Statement 2 : Addison's disease and rheumatoid arthritis are auto-immune diseases.

(Issue of Shares at Par and Preparation of Cash Book). Grand Ltd. offered 1,00,000 shares of Rs. 10 each for subscription on following terms: Rs. 3 to be paid on application, Rs. 3 to be paid on allotment, Rs. 4 to be paid in two months after allotment. Applications were received for 90,000 shares and allotment was made on 1st May, 2018. All the money due on allotment was received by 15th May, 2018. Call was duly made but a shareholder holding 1,500 shares failed to pay the call. Pass entries in the Cash Book, Journal and the Ledger of the Company. Also, prepare the Balance Sheet of the company showing Share Capital.