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Aakash
Subject: Accountancy
, asked on 10/10/17
Ma'am i'mnot attending the live class ... cazin our school we havntevn finshddissolution . n the company accontsbooks v didntreciveyet. soi'llbe watching the recodingsand clearing my doubts .
Answer
1
Ambareesh
Subject: Accountancy
, asked on 6/10/17
how to find share capital and how to show it in the balance sheet once if it is found ?
Answer
1
Ipsita Chakravarty
Subject: Accountancy
, asked on 5/10/17
Q. In 2016, Ganga Ltd was registered with an authorised capital of Rs. 100,000 in equity shares of Rs. 10 each . Of these 4,000 equity shares were issued as fully paid to vendors for the purchase of Plant and Machinery and the remaining 6,000 shares were subscribe for by the public for cash . During the first year, Rs. 6 per equity share was called up on these 6,000 shares , payable Rs. 3 on application , Rs. 1 on allotment and Rs. 2 on the first call .
The amount received in respect of these shares were as follows :
On 5,000 shares , the full amount called
on 600 shares , Rs. 4 per shares
on 400 shares, Rs. 3 per shares
The company forfeited all those shares on which only Rs. 3 had been received and reissued them at Rs. 4 per shares , Rs. 6 called up.
Journalise the transaction in the books of the company and prepare a Calls -in-arrears account.
Answer
1
Arunima Jalali
Subject: Accountancy
, asked on 30/9/17
Please answer this ques
Answer
4
Ambareesh
Subject: Accountancy
, asked on 28/9/17
how do I find whether the shares are issued at par or at lump sum and also in debentures ?
Answer
1
Tejasvita Goel
Subject: Accountancy
, asked on 28/9/17
Gautam ltd purchase a running business of karan ltd for a sum of rs 3200000 payable by issue of equity shares of ?100 each at premium of ?20 per share . the assets and liability are : machinery ?8,00,000 land and building ?12,00,000 stock ?9,00,000 and creditors ?2,00,000 .pass necessary journal entries
Answer
1
Ujjwal Sancheti
Subject: Accountancy
, asked on 28/9/17
Please solve this:
Example 5: X Ltd. issued 50,000 shares of Rs. 100 each at par and company received applications for 1,00,000 shares. The amount is payable as follows: on application Rs. 30, on allotment Rs. 50 and balance on call. The company made allotment as under:
Category
Shares Applied
Shares Alloted
(a)
(b)
(c)
30,000
50,000
20,000
30,000
20,000
NIL
Mohan of Category (b) who was allotted 1,500 shares failed to pay allotment money.
Calculate:
(i) Allotment money not paid by Mohan.
(ii) Money received on Allotment.
Answer
1
Harsh
Subject: Accountancy
, asked on 17/9/17
What Accounting Entries are passed in case of Oversubscription????
Answer
1
Harsh
Subject: Accountancy
, asked on 17/9/17
Extract of Balance Sheet in Accounting for Share Capital????
Answer
1
Manpreet Virk
Subject: Accountancy
, asked on 16/9/17
Solve this ques plzz
Answer
2
Harsh
Subject: Accountancy
, asked on 12/9/17
List of Journal Entries used in Accounting for Share Capital
Answer
1
Vibhav
Subject: Accountancy
, asked on 9/9/17
Why is forfeited shares A/c shown under the head subscribed capital in the balance sheet???
Forfeited shares represent a gain or surplus for the company Hence shouldnt it be shown under the head 'Reserves and Surplus'
Subscribed Capital represents the amount of shares for which applications from Public have been received. It represents liability towards the shareholders whereas Forfeited shares doesnt represent liability towards shareholders or any other person
Answer
1
Vibhav
Subject: Accountancy
, asked on 9/9/17
In case a company decides not to reissue the forfeited shares then where to show the forfeited shares A/c in the balance sheet and will the issued capital if the company change????
Answer
1
Vibhav
Subject: Accountancy
, asked on 9/9/17
Q. X. Ltd. issued 10,000 Equity Shares of Rs. 100 each at a premium of Rs. 20 per share payable as Rs. 30 per share on application, Rs. 50 per share on allotment including premium and Rs. 40 per share on first and final call.
All the shares were subscribed, money due on all shares was received except from Asha, holding 100 shares who failed to pay allotment and call money and Neeru holding 200 shares failed to pay the first and final call money. These 300 shares were forfeited. Out of the shares forfeited, 150 shares( including all shares of Asha) were reissued to Raja@Rs. 80 per share as fully paid-up.
Pass Journal entries in the books of the company to record the forfeiture and reisuue only. Also, show Shareholders' Funds in the Balance Sheet before and after forfeiture and reissue.
Answer
1
Vibhav
Subject: Accountancy
, asked on 9/9/17
After a company forfeits a certain amount of shares, is it legally neccesary for company to reissue the forfeited shares?????
Answer
2
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What are you looking for?
The amount received in respect of these shares were as follows :
On 5,000 shares , the full amount called
on 600 shares , Rs. 4 per shares
on 400 shares, Rs. 3 per shares
The company forfeited all those shares on which only Rs. 3 had been received and reissued them at Rs. 4 per shares , Rs. 6 called up.
Journalise the transaction in the books of the company and prepare a Calls -in-arrears account.
Example 5: X Ltd. issued 50,000 shares of Rs. 100 each at par and company received applications for 1,00,000 shares. The amount is payable as follows: on application Rs. 30, on allotment Rs. 50 and balance on call. The company made allotment as under:
(b)
(c)
50,000
20,000
20,000
NIL
Mohan of Category (b) who was allotted 1,500 shares failed to pay allotment money.
Calculate:
(i) Allotment money not paid by Mohan.
(ii) Money received on Allotment.
Forfeited shares represent a gain or surplus for the company Hence shouldnt it be shown under the head 'Reserves and Surplus'
Subscribed Capital represents the amount of shares for which applications from Public have been received. It represents liability towards the shareholders whereas Forfeited shares doesnt represent liability towards shareholders or any other person
Q. X. Ltd. issued 10,000 Equity Shares of Rs. 100 each at a premium of Rs. 20 per share payable as Rs. 30 per share on application, Rs. 50 per share on allotment including premium and Rs. 40 per share on first and final call.
All the shares were subscribed, money due on all shares was received except from Asha, holding 100 shares who failed to pay allotment and call money and Neeru holding 200 shares failed to pay the first and final call money. These 300 shares were forfeited. Out of the shares forfeited, 150 shares( including all shares of Asha) were reissued to Raja@Rs. 80 per share as fully paid-up.
Pass Journal entries in the books of the company to record the forfeiture and reisuue only. Also, show Shareholders' Funds in the Balance Sheet before and after forfeiture and reissue.