DK Goel Solutions Q 28 Chapter 6 Issue of Shares Class 12 CBSE [2023-24]
Step-by-step solution of Question 28, Chapter 6 Accounting for Companies – Issue of Share Capital, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 28
Fast Food Ltd. issued a prospectus offering 10,000 equity shares of ₹ 50 each at par payable as follows :
- On Application ₹ 15
- On Allotment ₹ 10
- On First Call ₹ 15
- On Final Call ₹ 10
Ram, the holder of 500 equity shares did not pay the amount due on both the calls. These 500 shares were forfeited by the Board of Directors and 300 of these shares were subsequently re-issued at ₹ 55 per share.
Show the entries in the Cash Book and Journal of the Company.
Solution
All questions of Chapter 6
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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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