Q 22 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)
Solutions of Question number 22 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)
Q. 22. Govind Ltd., issued a prospectus inviting applications for 20,000 shares of ₹ 10 each at a premium of ₹ 3 per share, payable as to ₹ 4 on application; ₹ 5 on allotment (including premium); ₹ 2 on First Call; and ₹ 2 on Final call.
Applications were received for 27,000 shares. Directors allotted the shares as follows:
| On Application | ₹ 4 per share |
| On Allotment | ₹ 6 (including premium of ₹ 3) |
| On First and Final Call | Balance |
Give entries in the Cash Book and Journal, assuming that all sums due on allotment and calls have been received.
[Ans. Cash at Bank ₹ 2,60,000.]
Solution:-
