DK Goel Solutions Q 56 Chapter 6 Issue of Shares Class 12 CBSE [2023-24]
Step-by-step solution of Question 56, Chapter 6 Accounting for Companies – Issue of Share Capital, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 56
XY Ltd. invited applications for 5,00,000 Equity shares of ₹ 10 each, payable as ₹ 3 on application, ₹ 4 on allotment and the balance on first and final call. Applications were received for 12,00,000 shares and the shares were allotted on a pro rata basis. The excess application money was to be adjusted against allotment only. R, a shareholder, who had applied for 6,000 shares, failed to pay the call money and his shares were accordingly forfeited and reissued at ₹ 9 per share as fully paid. Pass necessary journal entries.
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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