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Question 2 Chapter 8 of +2-A
2. Himmat ltd. has an authorized share capital of RS 50,00,000 divided into 50,00,000 equity shares of Rs 10 each. It has an existing issued and paid-up capital of Rs 5,00,000. It further issued to the public 1,50,000 equity shares at par for subscription payable as under:
| On Application | Rs 3 |
| On Allotment | Rs 4 and |
| On-Call | Balance Amount |
The issue was fully subscribed and allotment was made to all applicants call was made to during the year and was dully made received.
Show the share capital of the company in the balance sheet of the company.
In the Books of Himmat Ltd.
| Balance Sheet |
||
| Particulars | Note | Figures as at the end of the Previous Reporting Period |
|---|---|---|
| (1) | (2) | (3) |
| I. Equity and Liabilities | ||
| 1. Shareholders’ Funds | ||
| (a) Share Capital | 1 | 15,00,000 |
Note No. 1
| Particulars | Details | Amount |
|---|---|---|
| Share capital |
||
| Authorized capital | ||
| 50,000 Equity share of Rs 100 each | 50,00,000 | |
| Issued capital |
||
| 50,000 equity shares of Rs 100 each |
15,00,000 | |
| Subscribed capital | ||
| Subscribed and fully paid-up | ||
| Subscribed but not fully paid-up | ||
| 1,50,000 Equity shares of Rs 10 each | ||
| On application (1,50,000 *Rs 3 each ) |
4,50,000 | |
| On allotment (1,50,000 *Rs 4 each ) |
6,00,000 |
|
| On-call (1,50,000 *Rs 3 each ) | 4,50,000 | |
| 15,00,000 |
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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 2 Chapter 8 of +2-A - T.S. Grewal 12 Class", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to T.S. Grewal 12 Class Book Keeping Part - A - Vol. 2.
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