Advertisements
Advertisements
प्रश्न
Shiv, the holder of 100 shares paid his first call of ₹4 per share on 1st May, 2023, along with his allotment money. First Call is due on 1st September, 2023.
Interest is allowed by the company on calls-in-advance as per the provisions of Table F of the Companies Act, 2013.
You are required to give the adjusting entry and closing entry for interest on calls-in-advance.
संख्यात्मक
Advertisements
उत्तर
Given:
-
Number of shares = 100
-
Amount paid in advance = ₹4 per share
-
Total amount in advance = 100 × ₹4 = ₹400
-
Rate of interest = 6% p.a. (as per Table F)
-
Period = 4 months (from 1st May to 1st Sept)
Interest = `₹400 xx 6/100 xx 4/12 = ₹400 xx 0.02`
= ₹8
shaalaa.com
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
