P. Co. Ltd. issued 20,000 shares of Rs. 10 each payable as Rs. 2 on application, Rs. 3 on allotment, Rs. 2 on first call and Rs. 3 on final call. Applications were received for 25,000 shares and directors decided to make allotment on pro-rata basis to all applicants. All money was duly received except a shareholder who was allotted 400 shares failed to pay allotment and calls money. Give journal entries for above transactions.​

Singer and mcmann are partners in a business. singer’s original capital was $40,000 and mcmann’s was $60,000. they agree to salaries of $12,000 and $18,000 for singer and mcmann respectively and 10% interest on original capital. if they agree to share remaining profits and losses on a 3: 2 ratio, what will mcmann’s share of the income be if the income for the year was $15,000?

Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.

The answer here, x=7, is not in the interval that you selected in the previous part. what is wrong with the work shown above?