DK Goel Solutions Q 29 Chapter 6 Issue of Shares Class 12 CBSE [2023-24]
Step-by-step solution of Question 29, Chapter 6 Accounting for Companies – Issue of Share Capital, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 29
Z Ltd. was registered with an authorised capital of ₹ 10,00,000 divided into 10,000 shares of ₹ 100 each. The Company offered 5,000 of these shares to the public, which were payable ₹ 25 per share on application, ₹ 50 per share on allotment and the balance three months later. Applications for 7,100 shares were received on which the directors allotted as follows :
- Applications for 4,000 Shares — Full
- Applications for 3,000 Shares — 1,000
- Applications for 100 Shares — Nil
₹ 1,85,000 was realised on account of allotment money (excluding the amount carried from application money) and ₹ 1,15,000 on account of call. The Directors decided to forfeit those shares on which allotment money was overdue.
Show the entries in the company’s books.
Solution
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About this solution
This is Chapter 6 Accounting for Companies – Issue of Shares of DK Goel For 2024 Examinations.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per CBSE Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
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