Illustrate out the term forfeiture of share. When can a share be forfeited?
Florida co. Ltd invited for the 10000 shares of RS100 each at the discount of 6% payable as follows:
On the application Rs.25; on the allotment (with discount) Rs.34; on the first and the final call Rs.35.the application were acquired for 9000 shares and all of these were accepted .All money due were received except final call on 200 shares which were forfeited. Out of these 100 shares reissued at Rs.90 as fully paid. Provide essential entries and show the balance sheet?
Illustrate in brief the legal requirements in the Auditing financial statements.
Illustrate the significance of important techniques in inflation accounting.
Illustrate in brief the categorization of costs.