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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 401 Weeks Ago, 4 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
‘BMY Ltd.’ invited applications for issuing 1,00,000 equity shares of Rs 10 each at a premiumof Rs 10 per share. The amount was payable as follows:On application – Rs 10 per share (including Rs 5 premium)On allotment – The balanceThe issue was fully subscribed. A shareholder holding 300 shares paid the full share moneywith application. Another shareholder holding 200 shares failed to pay the allotment money.His shares were forfeited. Later on these shares were re-issued for Rs 4,000 as fully paid up.Pass necessary journal entries for the above transactions in the books of BMY Ltd.
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