Q 77 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Solution of Question number 77 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

On 1st April, 2022 Vivek Ltd. was formed with an authorized capital of ₹ 1,00,00,000 divided into 2,00,000 equity shares of ₹ 50 each. The company issued prospectus inviting applications for 1,80,000 shares. The issue price was payable as under:

The issue was fully subscribed and the company allotted shares to all the applicants. All money was received except allotment on 5,000 shares. The company did not make the call during the year.

Show the following:

(a) Share capital in the Balance Sheet of the company as per Schedule-III Part-I of the Companies Act, 2013.

(b) Also prepare ‘Notes to Accounts’ for the same.

[Ans. Subscribed but not Fully Paid Capital ₹ 62,00,000.]

Solution:-

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