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

Question 01 Chapter 8 of +2- Part

Question 01 Chapter 8 of +2-Part-1

Free Accounting book Solution - Class 11 and Class 12

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 - Question 01 Chapter 8 of +2 Part-1 - USHA Publication 12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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