OMEGA LTD. issued 25,000 equity shares of ₹ 100 each at a premium of ₹ 25 per share payable as follows: On application ₹ 50 On allotment ₹ 50 including premium of ₹ 25 On final call ₹ 25 Applications were received for 30
CS CSEET · Fundamentals of Accounting · PYQS · June 2026
OMEGA LTD. issued 25,000 equity shares of ₹ 100 each at a premium of ₹ 25 per share payable as follows: On application ₹ 50 On allotment ₹ 50 including premium of ₹ 25 On final call ₹ 25 Applications were received for 30,000 shares. Letters of regret were issued to applicants for 5,000 shares and shares were allotted to all other applicants. XYZ, the holder of 300 shares, failed to pay the allotment and call money; the shares were forfeited. Show the journal entries and cash book in the books of OMEGA LTD.
Topics: Company Accounts
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