Accounting for Companies-Accounting for Share Capital [CBSE (Central Board of Secondary Education) Class-12 Accountancy]: Questions 8 - 13 of 13

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Question 8

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Samta Ltd. forfeited 800 equity shares of ₹ 100 each for the non-payment of first call of ₹ 30 per share. The final call of ₹ 20 per share was not yet made. Out of the share 400 were re-issued at the rate of ₹ 105 per share fully paid up.

Pass necessary journal entries in the books of Samta Ltd. for the above transaction.

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Question 9

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What do you mean by Private placement of shares?

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Question 10

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What maximum amount of discount can be allowed on the reissue of forfeited shares?

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Question 11

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New India Ltd. forfeited 100 shares of ₹ 10 each, issued at a discount of 10% . The company had called up only ₹ 8 per share. Final call of ₹ 2 each has not been made on these shares. These shares were allotted to Ram, who did not pay the first call of ₹ 3.60 shares were reissued at ₹ 7 per share, as ₹ 8 paid up. Give Journal entries in the books of the company, showing the working clearly.

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Question 12

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What is Sweat Equity?

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Question 13

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Dividend paid by a manufacturing company is classified under which kind of activity while preparing cash flow statement?

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