DK Goel Solutions Q 26 Chapter 6 Issue of Shares Class 12 CBSE [2023-24]
Step-by-step solution of Question 26, Chapter 6 Accounting for Companies – Issue of Share Capital, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 26
Alfa Ltd. issued 5,000 shares of ₹ 100 each at par. The amount payable was as under :
- ₹ 25 on application;
- ₹ 25 on allotment;
- ₹ 20 on first call; and
- ₹ 30 on final call.
The company did not make final call. X, a holder of 100 shares, failed to pay allotment and first call money. Directors forfeited his shares and immediately re-issued the forfeited shares at ₹ 6,500.
Pass Journal entries in the books of the company and show the Share Capital in the Balance Sheet.
Solution
All questions of Chapter 6
Orange = this question · Grey = already opened.
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.
Stuck on this question? Ask Vijay Sir
Be the first to ask on this question.