Accounting for Companies (CBSE Class-12 Accountancy): Questions 4 - 6 of 21

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Question number: 4

» Accounting for Companies » Accounting for Debentures » Redemption of Debentures

Short Answer Question▾

Write in Short

Rs. 12, 00, 000, 8 % debentures were converted into equity shares of Rs. 100 each issued at a premium of Rs. 25 per share and the balance by converting them into 8 % preference shares of Rs. 100 each issued at a discount of Rs. 10 per shares.

Dhyey Ltd. redeemed Rs. 30, 00, 000, 8 % debentures issued at a premium of 5 % as follows:

Pass the Journal entries.

Question number: 5

» Accounting for Companies » Accounting for Share Capital » Accounting for Share Capital

Essay Question▾

Describe in Detail

Shubham Ltd. invited applications for the allotment of 80, 000 equity shares of Rs. 10 each at a discount of 10%. The amount was payable as follows:

On application Rs. 2 per share

On allotment Rs. 3 per share

On first and final call- Balance

Applications for 1, 10, 000 shares were received. Applications for 10, 000 shares were rejected. Shares were allotted on pro-rata basis to the remaining applicants. Excess application money received on application was adjusted towards sums due on allotment. All calls were made and were duly received. Manoj who had applied for 2, 000 shares failed to pay the allotment and first and final call. His shares were forfeited. The forfeited shares were re-issued for Rs. 24, 000 fully paid up. Pass necessary journal entries in the books of the company for the above transaction.

Explanation

JOURNAL ENTRY IN THE BOOKS Shubham Ltd.

entry related to issue of share, allotment and calls of it

No.

Particulars

L. F.

DR. RS

CR. RS.

1

Bank A/c……. Dr.

2, 20, 000

To Share Application A/c

(Being application money received on 1, 10, 000 share@Rs. 2 per share)… (251 more words) …

Question number: 6

» Accounting for Companies » Accounting for Share Capital » Accounting for Share Capital

Short Answer Question▾

Write in Short

Sagar Ltd. was registered with an authorised capital of Rs. 1, 00, 000 divided into 1, 00, 000 equity shares of Rs. 100 each. The company offered for public subscription 60, 000 equity shares.

Applications for 56, 000 shares were received and allotment was made to all the applicants. All the calls were made and were duly received except the second and final call of Rs. 20 per share on 700 shares. Prepare the Balance Sheet of the company showing the different types of share capital.

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