Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Advertisement
Advertisement
Advertisement
Advertisement
Question 03 Chapter 8 of +2-Part-1
3. (Balance Sheet/Notes to Accounts) A company has received applications for 30,000 equity shares of Rs. 10 each and 20,000 12% preference shares of Rs. 10 each. The company called up Rs. 8 on per equity shares and Rs. 6 on per preference shares.
Ajit did not pay Rs. 3 per share on his 3,000 shares and Sumit did not pay Rs. 5,000 on his preference shares.
Show the capital is Balance Sheet .
Journal
| Date | Particulars |
Note no. | Current Year | |
|---|---|---|---|---|
| i) | Equity & Liability | |||
| Shareholders fund | ||||
| Share Capital | 1 | 3,46,000 | ||
| Particulars |
Amount | |
|---|---|---|
| Shared capital | ||
| Authorized capital | ||
| Subscribed capital | ||
| 30,000 equity shares of Rs. 10 each | 3,00,000 | |
| 20,000 , 12 % Preference shares of Rs. 10 each | 2,00,000 | |
| Called up capital | 5,00,000 | |
| 30,000 equity shares of Rs. 10 each , Rs. 8 called up | 2,40,000 | |
| 20,000 , 12 % Preference shares of Rs. 10 each , Rs. 8 called up | 1,20,000 | |
| Paid up capital | 3,60,000 | |
| 30,000 equity shares of Rs. 10 each , Rs. 8 called up | 2,40,000 | |
| Less : Calls in Arrears (3,000X3) | 9,000 | 2,31,000 |
| 20,000 , 12 % Preference shares of Rs. 10 each , Rs. 8 called up | 1,20,000 | |
| Less : Calls in Arrears | 5,000 | 1,15,000 |
| 3,46,000 | ||
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 03 Chapter 8 of +2 Part-1 - USHA Publication 12 Class Part - 1", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to USHA Publication +2 Part 1.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "Question 03 Chapter 8 of +2 Part-1 - USHA Publication 12 Class Part - 1" instantly.
