Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question 3 Chapter 8 of Class 12 Part – 2 - 2024
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 .
We are providing a solution of Question 3 Chapter 8 of Class 12 Part – 2 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:
The video consists solution of question numbers from 1 to 3 Chapter no. 8 class 12 of Usha publication. To check the direct solution of question no. 3 from the flowing video by using time stamps of the video.
Balance Sheet
| Date | Particulars |
Note no. | Current Year | |
|---|---|---|---|---|
| i) | Equity & Liability | |||
| Shareholders fund | ||||
| Share Capital | 1 | 3,46,000 | ||
Notes to accounts:-
| 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. 6 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. 6 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 3 Chapter 8 of Class 12 Part – 2 - 2024", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Textbook Solution.
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 3 Chapter 8 of Class 12 Part – 2 - 2024" instantly.