DK Goel Solutions Q 35 Chapter 6 Issue of Shares Class 12 CBSE [2023-24]
Step-by-step solution of Question 35, Chapter 6 Accounting for Companies – Issue of Share Capital, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 35
On 1st April, 2021, Blue Heaven Ltd. was formed with an authorised capital of ₹ 20,00,000 divided into 2,00,000 equity shares of ₹ 10 each. The company issued prospectus inviting applications for 1,50,000 equity shares. The company received applications for 1,40,000 equity shares. During the first year, ₹ 7 per share were called. Arun holding 4,000 shares and Varun holding 3,000 shares did not pay the first call of ₹ 2 per share. Varun’s shares were forfeited after the first call and later on 1,800 of the forfeited shares were re-issued at ₹ 5 per share, ₹ 7 called up.
Show the following :
- (a) Share Capital in the Balance Sheet of the company as per Schedule III Part I of the Companies Act, 2013.
- (b) Also prepare ‘Notes to Accounts’ for the same.
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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