Question 1: Chapter 10 - Company Accounts Part I (Accounting For Shares) Book Keeping Accountancy Solutions for Class 12 Commerce Accountancy

Question 1: Chapter 10 - Company Accounts Part I (Accounting For Shares)

Book Keeping Accountancy Solutions for Class 12 Commerce Accountancy

PRACTICAL PROBLEMS

(Calculation of different types of Capital):

From the following details calculate authorised capital, issued, subscribed, called up and paid up share Capital and also calls in arrear and uncalled capital:

Pankaj Ltd. was formed with a capital of Rs 5,00,000 divided in to 5,000 shares of Rs 100 each. Of these 1,000 shares were issued to the vendor as fully paid in payment of purchase of machinery. 3,000 shares were offered to the public and of these 2,500 shares were applied and allotted. Rs 10 was payable on application and Rs 25 on allotment. The balance was yet to be called. All the money called up was duly received with the exception of allotment money on 300 shares.