Q 36 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)

Solutions of Question number 36 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)

Girish Ltd. was registered with an authorised capital of ₹ 1,00,00,000 divided into equity shares of ₹ 20 each payable as follows:

₹ 5 on application
₹ 17 on allotment (including premium ₹ 10)
Balance on Call

The Company offered 2,00,000 shares for public subscription. Applications were received for 1,90,000 shares and allotment was duly made. All the money was called and received except the following:

(i) Allotment and Call money on 8,000 shares held by Abha, and

(ii) Call money on 6,000 shares held by Suchi.

Abha’s shares were forfeited and out of these, 60% were reissued at ₹ 18 per share as fully paid.

Show Share Capital in the books of the company alongwith notes to accounts.

[Ans. Subscribed and Fully Paid Capital ₹ 36,16,000; Subscribed but not fully Paid Capital ₹ 72,000; Forfeited Shares Account ₹ 16,000.]

Solution:-