Q 9 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)
Solutions of Question number 9 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)
Q. 9. Kanpur Gas Ltd. issued 40,000 equity shares of ₹ 10 each at a premium of ₹ 1 per share. Amounts were payable as follows:
₹ 2.50 on Application; ₹ 4.50 on Allotment (including premium); ₹ 2 on First Call and ₹ 2 on Final Call.
Applications were received for 37,000 shares.
Give Journal Entries assuming that all sums have been received on due dates.
[Ans. Share Capital ₹ 3,70,000; Cash at Bank ₹ 4,07,000.]
Solution:-
