Q 46 DK Goel Issue of Shares Solutions Class 12 CBSE (2024-25)
Solutions of Question number 46 of Accounting for Companies Issue of shares chapter 6 of DK Goel Class 12 CBSE (2024-25)
X Ltd. issued a prospectus offering 2,00,000 shares of ₹ 10 each at ₹ 14 per share, payable as follows:
| On Application | ₹ 4 |
| On Allotment | ₹ 6 (including Premium ₹ 4) |
| On First Call | ₹ 3 |
| On Final Call | Balance |
Dinesh, the holder of 1,000 shares, did not pay the amount due on allotment and first call. His shares were forfeited and 400 of these shares were immediately re-issued credited ₹ 9 paid for ₹ 8.40 per share.
Final call was made afterwards and it was duly received.
Show entries in the Cash Book and the Journal of the company.
[Ans. Cash at Bank ₹ 27,93,760; Capital Reserve ₹ 1,360.]
Solution:-
