DK Goel Solutions Q 36 Chapter 6 Issue of Shares Class 12 CBSE [2023-24]
Step-by-step solution of Question 36, Chapter 6 Accounting for Companies – Issue of Share Capital, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 36
Star Ltd. was registered with an authorised Capital of ₹ 1,00,00,000 divided into 40,000 8% Preference Shares of ₹ 100 each and 3,00,000 Equity Shares of ₹ 20 each.
It issued a prospectus inviting application for 2,00,000 equity shares at a premium of ₹ 30 each, payable ₹ 7 on application; ₹ 35 on allotment (including premium) and balance on Call. Public applied for 2,50,000 shares. Full allotment was made to applicants for 2,00,000 shares and excess application money was refunded.
Allotment was made and allotment money was duly received except on 2,000 shares held by Varsha, while another shareholder Kirpa holding 500 shares paid the Call money also on allotment.
Present the ‘Share Capital’ in the Balance Sheet of the company as per Schedule III of the Companies Act, 2013. Also prepare ‘Notes to Accounts’.
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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