NCERT Solutions
Board Paper Solutions
Ask & Answer
School Talk
Login
GET APP
Login
Create Account
Popular
Latest
Expert Answers
ALL
Ipsita Chakravarty
Subject: Accountancy
, asked on 18/2/18
18
Q18. Sun Pharma Ltd, is registered with an authorised capital of Rs. 1,00,00,000 divided into 1,00,000 equity shares of Rs.100 each. The company issued 50,000 shares at a premium of Rs.40 per share. A shareholder holding 500 shares present the 'Share Capital' in the Balance Sheet of the company as per Schedule III part I of Companies Act, 2013. Also prepare Notes to Accounts.
Answer
1
Ipsita Chakravarty
Subject: Accountancy
, asked on 18/2/18
16
Q16. A Ltd. was registered with an authorised capital of Rs. 10,00,000 divided into equity shares of Rs.10 each. The company invited applications for the issue of 50,000 shares. Applications for 48,000 shares were received. All calls were made and were duly received except the final call of Rs. 2 per share on 1,000 shares. All these shares were show the following :
(i) Show how 'Share capital ' will appear in the Balance Sheet of A Ltd. as per Schedule, III. part I of the companies Act, 2013 ?
(ii) Also prepare 'Notes to Accounts' for the same.
Answer
1
Ipsita Chakravarty
Subject: Accountancy
, asked on 18/2/18
Q10- Why in this question forfeiture entry we not write security premium reserve a/c Dr. {400*3)
10.
The Directors of a company forfeited 400 shares of Rs 10 each issued at a premium of Rs 3 per share, for the non-payment of the First Call Money of Rs 3 per share. The final call of Rs 2 per share has not been made. Half the forfeited shares were reissued at Rs 2,000 fully paid. Record the journal Entries for the forfeiture and reissue of shares.
[Delhi 2009]
Answer
3
Charvi Srivastava
Subject: Accountancy
, asked on 15/2/18
Can you please send answer for this
L
L
t
d
.
i
s
s
u
e
d
a
p
r
o
s
p
e
c
t
u
s
i
n
v
i
t
i
n
g
a
p
p
l
i
c
a
t
i
o
n
s
f
o
r
2
,
00
,
000
s
h
a
r
e
s
o
f
₹
10
e
a
c
h
a
t
a
p
r
e
m
i
u
m
o
f
₹
6
p
e
r
s
h
a
r
e
p
a
y
a
b
l
e
a
s
f
o
l
l
o
w
O
n
a
p
p
l
i
c
a
t
i
o
n
—
₹
5
(
i
n
c
l
u
d
i
n
g
p
r
e
m
i
u
m
₹
2
)
O
n
a
l
l
o
t
m
e
n
t
—
₹
5
(
i
n
c
l
u
d
i
n
g
p
r
e
m
i
u
m
₹
2
)
O
n
f
i
r
s
t
c
a
l
l
—
₹
3
(
i
n
c
l
u
d
i
n
g
p
r
e
m
i
u
m
₹
1
)
O
n
s
e
c
o
n
d
a
n
d
f
i
n
a
l
c
a
l
l
—
₹
3
(
i
n
c
l
u
d
i
n
g
p
r
e
m
i
u
m
₹
1
)
A
p
p
l
i
c
a
t
i
o
n
s
w
e
r
e
r
e
c
e
i
v
e
d
f
o
r
2
,
60
,
000
s
h
a
r
e
s
a
n
d
p
r
o
-
r
a
t
a
a
l
l
o
t
m
e
n
t
w
a
s
m
a
d
e
t
o
t
h
e
a
p
p
l
i
c
a
n
t
s
f
o
r
2
,
50
,
000
s
h
a
r
e
s
.
E
x
c
e
s
s
m
o
n
e
y
p
a
i
d
o
n
a
p
p
l
i
c
a
t
i
o
n
f
o
r
t
h
e
s
e
s
h
a
r
e
s
w
a
s
u
t
i
l
i
z
e
d
t
o
w
a
r
d
s
a
l
l
o
t
m
e
n
t
.
A
w
h
o
a
p
p
l
i
e
d
f
o
r
1
,
000
.
s
h
a
r
e
s
f
a
i
l
e
d
t
o
p
a
y
b
o
t
h
t
h
e
c
a
l
l
s
a
n
d
h
i
s
s
h
a
r
e
s
w
e
r
e
a
l
s
o
f
o
r
f
e
i
t
e
d
.
O
f
t
h
e
s
h
a
r
e
s
f
o
r
f
e
i
t
e
d
,
1
,
800
s
h
a
r
e
s
w
e
r
e
r
e
-
i
s
s
u
e
d
a
s
f
u
l
l
y
p
a
i
d
u
p
f
o
r
₹
15
p
e
r
s
h
a
r
e
.
T
h
e
w
h
o
l
e
o
f
B
'
s
s
h
a
r
e
s
b
e
i
n
g
i
n
c
l
u
d
e
d
.
P
r
e
p
a
r
e
c
a
s
h
b
o
o
k
,
J
o
u
r
n
a
l
a
n
d
s
h
o
w
s
h
a
r
e
c
a
p
i
t
a
l
a
m
o
u
n
t
i
n
B
a
l
a
n
c
e
S
h
e
e
t
.
Answer
1
Shanaya
Subject: Accountancy
, asked on 12/2/18
Q6
Answer
2
Riya Verma
Subject: Accountancy
, asked on 11/2/18
Plz answer fast.Vibhu was alloted 120 shares of rs.10 per share which he paid only rs.6 of application and allotment(including 3 rs on premium).he failed to pay subsequent calls so his shares were forfeited and reissued at maximum permissible discount. Then What will be the amount of discount allowed on reissue? Will it include the amount of security premium?
Answer
1
Esha Pandey
Subject: Accountancy
, asked on 28/1/18
Answer the question.
Q. ARS Ltd. has its share capital divided into equity shares of Rs. 10 each. On
1
s
t
April, 2015 it grants option for issue of 15,000 equity shares of Rs. 60 each under employees' stock option scheme. On this date the market price of share was Rs. 150. The options was to be exercised between
15
t
h
March to
31
s
t
March 2016. The employees exercised their options for 14,000 shares only. The remaining option lapsed.
Pass journal entries for the issue of employee stock options.
Answer
1
Chakshu Sharma
Subject: Accountancy
, asked on 26/1/18
Plz ans 10
Q.10. On 1st April, 2012, Micro-tech Ltd. was formed with an authorised capital of Rs. 50,00,000 divided into 5,00,000 equity shares of Rs. 10 each. The company issued prospectus inviting applications for 4,50,000 equity shares. The company received applications for 4,20,000 equity shares. During the first year, Rs. 8 per share were called. Trilok holding 1,000 shares and Rajesh holding 2,000 shares did not pay the first call of Rs. 2 per share. Rajesh's shares were forfeited after the first call and later on 1,500 of the forfeited shares were re-issued at Rs. 6 per share, Rs. 8 called up. Show the following :
(a) Share Capital in the Balance Sheet of the company as per revised Schedule III of Company Act 2013.
(b) Also prepare 'Notes to Accounts' for the same.
Answer
1
Riya Verma
Subject: Accountancy
, asked on 25/1/18
Which practise book should i prefer for practise more in accountancy apart from sample papers provided by meritnation? Plz help with some ideas
Answer
4
Shanaya
Subject: Accountancy
, asked on 23/1/18
What the answer?
Q.
Sonu has an authorized capital of Rs 30,00,000 divided into equity shares of Rs 10 each. The company invited applications for 81 ,000 shares from public and 3,000 shares allotted to signatories to Memorandum of Association as fully paid. Applications for 80,000 shares were received from public. All calls were made except the final call of Rs 2 and all dues were duly received except the first call of Rs 3 per share on 1000 shares which were forfeited. Out of forfeited shares, 700 shares were reissued at Rs 7 per share, Rs 8 called up.
Show how Share Capital will appear in Balance Sheet of Sonu Ltd. as per Revised Schedule III and also prepare Notes to Accounts.
Answer
1
Chakshu Sharma
Subject: Accountancy
, asked on 23/1/18
Q. Mohit ltd took over assets of Rs. 8,40,000 and liabilities of Rs. 80,000 of Ram Ltd. at agreed value of Rs. 7,20,000. Mohit ltd paid to Ram ltd by issuing of 9% debentures of Rs. 100 each at premium of 20% .
Pass the necessary journal entries.
Answer
1
Chakshu Sharma
Subject: Accountancy
, asked on 23/1/18
Q. Mohit ltd took over assets of Rs. 8,40,000 and liabilities of Rs. 80,000
of Ram Ltd. at agreed value of Rs. 7,20,000. Mohit ltd paid to Ram ltd by issuing of debentures of Rs. 100 each at a premium of 20%.
Pass neæssary journal entries
Q. On 1st Apri, 2012. Micro-tech Ltd. was formed with an authorised capital of Rs. 50,00,000 divided into 5,00,000 equity shares of Rs.10 each. The company issued prospectus inviting applications for 4,50,000 equity shares. The company received applications for
4,20,000 equity shares. During the first year, Rs. 8 per share were
æned. Trilok holding 1,000 shares and Rajesh holding 2,000 shares
did not pay the first call of Rs.2 per share. Rajesh's shares were
forfeited after the first call and later on 1,500 of the forfeited shares were re—issued at Rs. 6 per share, Rs. 8 called up. Show the following:
(a) Share Capital in tie Balance Sheet of the company as per revised Schedule III of Company Act 2013.
(b) Also prepare 'Notes to Accounts' for the same.
Q. A and B are sharing profits & losses equally. They admit C, who is specially abled into partnership to raise his standard of living. C paid only Rs. 60,000 for premium out of his share of premium of Rs. 1, 08,000 for 1/4th share in profit. Goodwill account appears in the books at Rs. 3,00,000. All the partners have decided that goodwill should not appear in the new firm's books. Half of the premium is withdrawn by the partners. Give the necessary journal entries. Also state any one value.
Answer
3
Chakshu Sharma
Subject: Accountancy
, asked on 23/1/18
Answer this plz
Q). If a share of Rs. 10 issued at a premium of Rs. 2 on which Rs. 6 (including premium) has been paid is forfeited. At what minimum rice it can be reissued?
Answer
1
Arunima Jalali
Subject: Accountancy
, asked on 22/1/18
In share capital balance sheet if there are arrears why do we first multiply the arrear shares into amt of share and then subtract the arrears multiplied with the amt that is not paid
Answer
2
Shanaya
Subject: Accountancy
, asked on 22/1/18
What to do in case of share forfeiture if amount of capital reserve is negative or its is 0?
What entry is passed in both the cases?
Answer
1
Prev
1
2
3
4
5
Next
What are you looking for?
Q18. Sun Pharma Ltd, is registered with an authorised capital of Rs. 1,00,00,000 divided into 1,00,000 equity shares of Rs.100 each. The company issued 50,000 shares at a premium of Rs.40 per share. A shareholder holding 500 shares present the 'Share Capital' in the Balance Sheet of the company as per Schedule III part I of Companies Act, 2013. Also prepare Notes to Accounts.
Q16. A Ltd. was registered with an authorised capital of Rs. 10,00,000 divided into equity shares of Rs.10 each. The company invited applications for the issue of 50,000 shares. Applications for 48,000 shares were received. All calls were made and were duly received except the final call of Rs. 2 per share on 1,000 shares. All these shares were show the following :
(i) Show how 'Share capital ' will appear in the Balance Sheet of A Ltd. as per Schedule, III. part I of the companies Act, 2013 ?
(ii) Also prepare 'Notes to Accounts' for the same.
10. The Directors of a company forfeited 400 shares of Rs 10 each issued at a premium of Rs 3 per share, for the non-payment of the First Call Money of Rs 3 per share. The final call of Rs 2 per share has not been made. Half the forfeited shares were reissued at Rs 2,000 fully paid. Record the journal Entries for the forfeiture and reissue of shares. [Delhi 2009]
Q. ARS Ltd. has its share capital divided into equity shares of Rs. 10 each. On April, 2015 it grants option for issue of 15,000 equity shares of Rs. 60 each under employees' stock option scheme. On this date the market price of share was Rs. 150. The options was to be exercised between March to March 2016. The employees exercised their options for 14,000 shares only. The remaining option lapsed.
Pass journal entries for the issue of employee stock options.
Q.10. On 1st April, 2012, Micro-tech Ltd. was formed with an authorised capital of Rs. 50,00,000 divided into 5,00,000 equity shares of Rs. 10 each. The company issued prospectus inviting applications for 4,50,000 equity shares. The company received applications for 4,20,000 equity shares. During the first year, Rs. 8 per share were called. Trilok holding 1,000 shares and Rajesh holding 2,000 shares did not pay the first call of Rs. 2 per share. Rajesh's shares were forfeited after the first call and later on 1,500 of the forfeited shares were re-issued at Rs. 6 per share, Rs. 8 called up. Show the following :
(a) Share Capital in the Balance Sheet of the company as per revised Schedule III of Company Act 2013.
(b) Also prepare 'Notes to Accounts' for the same.
Q. Sonu has an authorized capital of Rs 30,00,000 divided into equity shares of Rs 10 each. The company invited applications for 81 ,000 shares from public and 3,000 shares allotted to signatories to Memorandum of Association as fully paid. Applications for 80,000 shares were received from public. All calls were made except the final call of Rs 2 and all dues were duly received except the first call of Rs 3 per share on 1000 shares which were forfeited. Out of forfeited shares, 700 shares were reissued at Rs 7 per share, Rs 8 called up.
Show how Share Capital will appear in Balance Sheet of Sonu Ltd. as per Revised Schedule III and also prepare Notes to Accounts.
Pass the necessary journal entries.
of Ram Ltd. at agreed value of Rs. 7,20,000. Mohit ltd paid to Ram ltd by issuing of debentures of Rs. 100 each at a premium of 20%.
Pass neæssary journal entries
Q. On 1st Apri, 2012. Micro-tech Ltd. was formed with an authorised capital of Rs. 50,00,000 divided into 5,00,000 equity shares of Rs.10 each. The company issued prospectus inviting applications for 4,50,000 equity shares. The company received applications for
4,20,000 equity shares. During the first year, Rs. 8 per share were
æned. Trilok holding 1,000 shares and Rajesh holding 2,000 shares
did not pay the first call of Rs.2 per share. Rajesh's shares were
forfeited after the first call and later on 1,500 of the forfeited shares were re—issued at Rs. 6 per share, Rs. 8 called up. Show the following:
(a) Share Capital in tie Balance Sheet of the company as per revised Schedule III of Company Act 2013.
(b) Also prepare 'Notes to Accounts' for the same.
Q. A and B are sharing profits & losses equally. They admit C, who is specially abled into partnership to raise his standard of living. C paid only Rs. 60,000 for premium out of his share of premium of Rs. 1, 08,000 for 1/4th share in profit. Goodwill account appears in the books at Rs. 3,00,000. All the partners have decided that goodwill should not appear in the new firm's books. Half of the premium is withdrawn by the partners. Give the necessary journal entries. Also state any one value.
Q). If a share of Rs. 10 issued at a premium of Rs. 2 on which Rs. 6 (including premium) has been paid is forfeited. At what minimum rice it can be reissued?
What entry is passed in both the cases?