[CBSE] Q. 35 Solution of Accounting for Share Capital TS Grewal Class 12 (2024-25)

The solution to Question number 35 of the Accounting for Share Capital chapter of TS Grewal Book 2024-25 Edition CBSE Board

Usha Ltd. was formed with a capital of ₹ 10,00,000 divided into shres of ₹ 100 each. It offered 90% shares to public for subscription. The amount per share was payable as 40% on application, 20% on allotment and the balance on first and final call. The applicants paid ₹ 3,60,000 on application and ₹ 1,69,000 on allotment.

The call has not yet been made. Calculate:

(a) Authorised Capital, (b) Issued Capital, (c) Subscribed Capital, (d) Called Up Capital, (e) Paid-up Capital, and (f) Calls-in-arrears.

[Ans.: (a) ₹ 10,00,000; (b) ₹ 9,00,000; (c) ₹ 9,00,000; (d) ₹ 5,40,000; (e) ₹ 5,29,000; (f) ₹ 11,000.]

Solution:-

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