Question 3 Chapter 8 of +2-A - T.S. Grewal 12 Class

Question 3 Chapter 8 of +2-A – T.S. Grewal 12 Class

By Shubham Sharma 5 Min Read December 20, 2020

Question No.3 - Chapter No.8 - T.S. Grewal +2 Book 2019-Solution-min-min

Question 3 Chapter 8 of +2-A

Table of Contents

The solution of Question 3 Chapter 8 of +2-A: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Disclosure of share capital in the company’s Balance sheet.

3. LENOVO LTD. has an authorized share capital of Rs 1,00,00,000 divided into 1,00,000 equity shares of Rs 100 each. It has an existing issued and paid-up capital of Rs 25,00,000.it further issued to public 25,000 equity shares at a premium of 20% for subscription payable as under:

ON APPLICATION	RS 30
ON ALLOTMENT	RS 60
ON CALL	BALANCE AMOUNT

The issue was fully subscribed and allotment was made to all the applicants. The company did not make the call during the year.
Show the share capital of the company on the Balance sheet of the company.

The solution of Question 3 Chapter 8 of +2-A: –

In the Books of Lenovo 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	2,50,00,000

		2,50,00,000

Note No. 1
Particulars	Details	Amount
Share capital
Authorized capital
1,00,000 Equity share of Rs 100 each		10,00,00,000
Issued capital
2,50,000 equity shares of Rs 100 each		2,50,00,000
Subscribed capital
Subscribed and fully paid-up
Subscribed but not fully paid-up
2,50,000 equity shares of Rs 100 each
On application (2,50,000 equity shares*Rs30)	75,00,000
On allotment (2,50,000 equity shares*Rs60)	1,50,00,000
On call (2,50,000 equity shares*Rs10)	25,00,000
		2,50,00,000
		5,00,00,000