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Shelly Bothra
Subject: Accountancy
, asked on 21/1/18
Please solve question no. 09,10 &11
Q9. Rajan Ltd. purchased a running business from Vikas Ltd, for a sum of Rs. 2,80,000 payable as Rs. 2,20,000 in fully paid equity shares of Rs. 10 each issued at 10% premium and balance by a bank draft. The assets and liabilities consisted of the Sundry Assets Rs. 2,80,000 and Sundry Creditors -Rs.20, 000.
Q10. On 1
st
April, 2012 A Ltd. took a loan of Rs. 15,00,000 from the State Bank of India for which the company issued 10% Debentures of Rs.16,00,000 as collateral security. Record the issue of debentures in the books of the A. Ltd. And also show how the debentures and bank loan will appear in the Balance Sheet of the company.
Q11. S T L Global Ltd. was formed with a nominal share capital of Rs. 40,00,000 divided into 4,00,000 shares of 10 each. The company offered 1,30,000 shares to the public payable Rs.3 per shares on Applications were received for 1,20,000 shares. All money payable on allotment was duly received, except on 2,000 shares held by. Y. First and Final call was not made by the company.
How would you show the relevant items in the Balance Sheet of STL Global Ltd.?
Answer
1
Arunima Jalali
Subject: Accountancy
, asked on 17/1/18
Why is forfeited amount added in the balance sheet of shares
Answer
2
Akshy Maheshwari
Subject: Accountancy
, asked on 16/1/18
Q. A company issued 100000 Equity Shares of Rs. 10 each to public on the following terms:
Rs. 3 payable on application. Rs. 4 on allotment, the balance as and when required.
Applications were received for 1,40,000 Equity shares. Allotment was made as under:
80,000 application were given 80,000 Equity Shares.
50,000 application were given 20,000 Equity Shares.
10,000 application were not allotted any share.
A shareholder who applied for 1,000 Equity Shares and was given 1,000 shares failed to pay the allotment money. His shares were forfeited.
Pass Journal entries to record the above transactions.
Answer
1
Pragya Shree
Subject: Accountancy
, asked on 16/1/18
Solve this
Q. Z Limited has a authorized capital of R. 10,00,000 divided into equity shares of Rs. 10. each. The company invited applications for 50,000 shares. Applications for 48,000 shares were received. All calls were made and duly received except the final call of Rs.3 per share on 1,000 shares. These shares on which the final call was not received were forfeited. Show how the share capital will appear in the balance sheet of the company as per schedule III part I of the companies Act 2013. Also prepare notes to account for the same.
Answer
1
Pragya Shree
Subject: Accountancy
, asked on 15/1/18
How much marks is for WORKING NOTE in 8 marks questions???
Answer
4
Pragya Shree
Subject: Accountancy
, asked on 13/1/18
Kindly give the marking structure of both 8 marks question (along with working note).
Answer
1
Fayad Mehamood.mk
Subject: Accountancy
, asked on 13/1/18
difference between partnersip ans company
Answer
2
Akshy Maheshwari
Subject: Accountancy
, asked on 12/1/18
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Answer
2
Arunima Jalali
Subject: Accountancy
, asked on 8/1/18
What is the jounal entry for int on calls in advance
Answer
2
Chakshu Sharma
Subject: Accountancy
, asked on 5/1/18
Answer this que and plz show the working clearly ...!
Answer
1
Chakshu Sharma
Subject: Accountancy
, asked on 2/1/18
Answer question no 17
Answer
1
Rabiya Afreen
Subject: Accountancy
, asked on 30/12/17
mam or sir how do we calculate calls in arrear for call money??? pro rata and ALLOTMENT ARREAR
Answer
1
Rabiya Afreen
Subject: Accountancy
, asked on 30/12/17
what vlaues are shown by a company by issuing its shares at pro rata basis
Answer
2
Pragya Shree
Subject: Accountancy
, asked on 28/12/17
3. Krishna & Co. Ltd. with an authorised capital of Rs. 2,00,000 divided into 20,000 Equity Shares of Rs. 10 each,
issued the entire amount of the shares payable as:
Rs. 5 on application (including premium 2 per share),
Rs. 4 on allotment, and
Rs. 3 on call.
All share money is received in full with the exception of the allotment money on 200 shares and the call
money on 500 shares (including the 200 shares on which the allotment money has not been paid).
The above 500 shares are duly forfeited and 400 of these (including the 200 shares on which allotment
money has not been paid) are reissued at Rs. 7 per share payable by the purchaser as fully paid-up.
Pass Journal entries (including cash transactions) and show the balances in the Balance Sheet giving effect to the above transaction.
Find the Capital Reserve.
Answer
3
Pragya Shree
Subject: Accountancy
, asked on 28/12/17
A gets 2,500 shares on pro rata basis. After having paid Rs. 5 per share on application, he did not pay allotment money of Rs. 4.50 per share (including premium) and on his subsequent failure to pay the first call of Rs. 2 per share, his shares were forfeited. These shares were reissued at the rate of Rs. 8 per share credited as fully paid. Pass Journal entries to record the forfeiture and reissue of shares.
[Ans : Allotment money due but not received - Rs. 3750, Forfeited Shares A/c Credited - Rs. 12,500; Capital Reserve- Rs. 7500)
How to get the forfeited share??
Answer
2
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What are you looking for?
Q9. Rajan Ltd. purchased a running business from Vikas Ltd, for a sum of Rs. 2,80,000 payable as Rs. 2,20,000 in fully paid equity shares of Rs. 10 each issued at 10% premium and balance by a bank draft. The assets and liabilities consisted of the Sundry Assets Rs. 2,80,000 and Sundry Creditors -Rs.20, 000.
Q10. On 1st April, 2012 A Ltd. took a loan of Rs. 15,00,000 from the State Bank of India for which the company issued 10% Debentures of Rs.16,00,000 as collateral security. Record the issue of debentures in the books of the A. Ltd. And also show how the debentures and bank loan will appear in the Balance Sheet of the company.
Q11. S T L Global Ltd. was formed with a nominal share capital of Rs. 40,00,000 divided into 4,00,000 shares of 10 each. The company offered 1,30,000 shares to the public payable Rs.3 per shares on Applications were received for 1,20,000 shares. All money payable on allotment was duly received, except on 2,000 shares held by. Y. First and Final call was not made by the company.
How would you show the relevant items in the Balance Sheet of STL Global Ltd.?
Rs. 3 payable on application. Rs. 4 on allotment, the balance as and when required.
Applications were received for 1,40,000 Equity shares. Allotment was made as under:
80,000 application were given 80,000 Equity Shares.
50,000 application were given 20,000 Equity Shares.
10,000 application were not allotted any share.
A shareholder who applied for 1,000 Equity Shares and was given 1,000 shares failed to pay the allotment money. His shares were forfeited.
Pass Journal entries to record the above transactions.
Q. Z Limited has a authorized capital of R. 10,00,000 divided into equity shares of Rs. 10. each. The company invited applications for 50,000 shares. Applications for 48,000 shares were received. All calls were made and duly received except the final call of Rs.3 per share on 1,000 shares. These shares on which the final call was not received were forfeited. Show how the share capital will appear in the balance sheet of the company as per schedule III part I of the companies Act 2013. Also prepare notes to account for the same.
issued the entire amount of the shares payable as:
Rs. 5 on application (including premium 2 per share),
Rs. 4 on allotment, and
Rs. 3 on call.
All share money is received in full with the exception of the allotment money on 200 shares and the call
money on 500 shares (including the 200 shares on which the allotment money has not been paid).
The above 500 shares are duly forfeited and 400 of these (including the 200 shares on which allotment
money has not been paid) are reissued at Rs. 7 per share payable by the purchaser as fully paid-up.
Pass Journal entries (including cash transactions) and show the balances in the Balance Sheet giving effect to the above transaction.
Find the Capital Reserve.
A gets 2,500 shares on pro rata basis. After having paid Rs. 5 per share on application, he did not pay allotment money of Rs. 4.50 per share (including premium) and on his subsequent failure to pay the first call of Rs. 2 per share, his shares were forfeited. These shares were reissued at the rate of Rs. 8 per share credited as fully paid. Pass Journal entries to record the forfeiture and reissue of shares.
[Ans : Allotment money due but not received - Rs. 3750, Forfeited Shares A/c Credited - Rs. 12,500; Capital Reserve- Rs. 7500)
How to get the forfeited share??