DK Goel Solutions Q 43 Chapter 6 Issue of Shares Class 12 CBSE [2023-24]
Step-by-step solution of Question 43, Chapter 6 Accounting for Companies – Issue of Share Capital, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 43
Accountancy Publication Ltd. issued 50,000 equity shares of ₹ 10 each at a premium of 10% payable as under :
On Application ₹ 3; On Allotment ₹ 4 (Premium ₹ 1); On First Call ₹ 2; and On Final Call ₹ 2.
The whole of the issue was called for by the company and all the money were duly received except the allotment and calls money on 500 shares. These shares were, therefore, forfeited and later on re-issued at ₹ 9 per share as fully paid. Pass the necessary journal entries to record the above transactions.
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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