Corporate Accounting Paper- I Sem- III Question Bank
VIVEKANAND COLLEGE KOLHAPUR (AUTONOMOUS) B.Com- II Sem- I CORPORATE ACCOUNTING PAPER- I QUESTION BANK Module- I A) Issue and forfeiture of shares, Re-issue of forfeited shares B) Issue & Redemption of Debentures (sinking fund method only) Ø PROBLEMS ON PART A Problem 1. Krishna Industries Ltd. Issued prospectus inviting applications for 12,000 shares of Rs. 100 each at a premium of Rs. 20 each payable as follows: On application Rs. 20 On allotment Rs. 50 (including premium) On first call Rs.30 On final call Rs. 20 Applications were received for 18,000 shares and allotment made pro-rata to the application of 14,400 shares. Money over paid on application was employed on account of sum due on allotment and excess money refunded. Mr. Rahul the holder of 360 shares failed to pay first and second call and his shares were forfeited after final call. The forfei...