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Question No 6 Chapter 1 – Unimax Class 12 Part 2 – 2021
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Goodwill Ltd. was registered with an authorized capital of ₹ 6,00,000 divided into 60,000 equity shares of ₹ 10 each. Since the economy was in robust shape, the company decided to offer to the public for subscription 30,000 equity shares of ₹ 10 each at a premium of ₹ 20 per share. Application for 28,000 shares were received and allotment was made to all the application. All calls were made and duly received except the final call of ₹ 2 per share on 300 shares. Show the share capital in the Balance Sheet of goodwill Ltd. as per schedule 3, part 1 of the companies Act, 2013. Also prepare Note to Accounts for the same.
The solution of Question 6 Chapter 1 of +2 Part-2: –
Balance Sheet of Goodwill
As At ………
| Particulars | Note No. | Amount Current year | Amount previous year |
| Equity and Liabilities | |||
| 1 Share holders funds | |||
| a. share capital | 1 | 2,79,400 |
Note to Accounts
| Particulars | ₹ | |
| 1 share capital : | ||
| Authorized capital | ||
| 60,000 equity shares of ₹ 10 each | 6,00,000 | |
| Issued capital: | ||
| 30,000 Equity shares ₹ 10 each | 3,00,000 | |
| Subscribed capital | ||
| Subscribed and fully paid up capital | ||
| 27,700 shares of @ 10 each | 2,77,000 | |
| Subscribed but not fully paid up | 3,000 | |
| Less Call in Arrears | -600 | |
| (300*2) | 2,400 | 2,79,400 |
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Share Capital: Meaning, Types, and Classes
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I (Introduction)
- Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
- Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
- Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
- Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
- Chapter No. 4 – Ratio Analysis
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
