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Question 01 Chapter 8 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 01 Chapter 8 of +2- Part
Q-1 - CH-8 - Usha +2 Book 2018 - Solution

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Question 01 Chapter 8 of +2-Part-1

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1. (Types of Capital) Alfa Ltd was incorporated with an authorized capital of Rs. 50,00,000 divided in to equity shares of Rs. 100 each. It issued Rs. 40,000 shares to the public for cash. Applications were received for Rs. 35,000 shares. The company called up Rs. 80 per share. Ashok who has allotted Rs. 1,000 shares did not pay call money @ Rs. 10 per share.
Show the amount for various categories of capital.

The solution of Question 01 Chapter 8 of +2 Part-1: –

 
Particulars
Amount
Authorized capital  
50,000 shares of Rs. 100 each 50,00,000
Issued capital  
40,000 shares of Rs. 100 each 40,00,000
Subscribed capital  
35,000 shares of Rs. 100 each 35,00,000
Called up capital  
35,000 shares of Rs. 100 each @ Rs. 80 each 28,00,000
Paid up capital  
35,000 shares of Rs. 100 each @ Rs. 80 per share called up 28,00,000
Less : Calls in Arrears (1,000X10) 10,000
  27,90,000
Unissued capital  
50,00,000 – 40,00,000 10,00,000
Unissued capital  
40,00,000 – 35,00,000 5,00,000
Unissued capital  
35,00,000 – 28,00,000 7,00,000

Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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