DK Goel Solutions Q 71 Chapter 6 Issue of Shares Class 12 CBSE [2023-24]
Step-by-step solution of Question 71, Chapter 6 Accounting for Companies – Issue of Share Capital, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 71
X Ltd. invited applications for 40,000 shares of ₹ 10 each at 5% premium, payable as ₹ 3 on application, ₹ 3.50 on allotment (including premium) and balance on first and final call. Applications were received for 90,000 shares and allotment was made on pro-rata basis. The excess money received on application was to be adjusted against allotment only. A shareholder who applied for 4,500 shares, could not pay the call money and his shares were accordingly forfeited.
Pass necessary journal entries and show the items in company’s Balance Sheet.
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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