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

Question 2 Chapter 8 of +2-A

Table of Contents

The solution of Question 2 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)

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.

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

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