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Question no 5 Chapter 1 – Unimax Class 12 Part 2 – 2021

Question no -05 Chapter no-1 Unimax Class-12 Part-II
Question no -05 Chapter no-1 Unimax Class-12 Part-II

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Question No 5 Chapter 1 – Unimax Class 12 Part 2 – 2021

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On 1st April, 2022, Kavita Ltd. was formed with an authorized capital of ₹ 50,00,000 divided into 1,00,000 equity shares of ₹ 50 each. The company issued prospectus inviting application for 80,000 shares. The issued was payable as under:

On Application: ₹ 15
On Allotment: ₹ 20
On Call: Balance amount

The issued was fully subscribed and the company allotted shares to all the applications. The company did not make the call during the year.
Show the following:
(a) Share capital in the Balance sheet of the company as per schedule 3, part 1 of the companies Act, 2013.
(b) Also prepare ‘Notes to Amount for the same’.

The solution of Question 5 Chapter 1 of +2 Part-2: –

Balance Sheet of Kavita
As At ………

Particulars
Note
No.
Amount
Current year
Amount previous year
Equity and Liabilities   
1 Share holders funds   
a. share capital128,00,000 

Note to Accounts

Particulars
1 share capital : 
Authorized capital 
1,00,000 equity shares of ₹ 50 each50,00,000
Issued capital: 
80,000 Equity shares ₹ 50 each40,00,000
Subscribed capital 
Subscribed and fully paid up capital 
80,000 shares of @ 35 each28,00,000

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Share Capital: Meaning, Types, and Classes

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

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

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

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