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Summary Cbse, class12, accountancy, sample papers, practice papers with solution, 3 new ratios
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Cbse, class12, accountancy, sample papers, practice papers with solution, 3 new ratios
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9. Company Accounts—Accounting for Share Capital
SOLUTIONS TO EXERCISE
Disclosure of Share Capital in Company’s Balance Sheet
1. AN EXTRACT OF BALANCE SHEET OF HI-TECH LTD. as at...
Particulars Note No. `
I. EQUITY AND LIABILITIES
Shareholders’ Funds
Share Capital 1 44,90,000
Note to Accounts
Particulars `
1. Share Capital
Authorised Capital
50,000 Equity Shares of ` 100 each 50,00,000
Issued Capital
50,000 Equity Shares of ` 100 each 50,00,000
Subscribed Capital
Subscribed and Fully Paid-up
44,500 Equity Shares of ` 100 each 44,50,000
Subscribed but not Fully Paid-up
500 Equity shares of ` 100 each 50,000
Less: Calls-in-Arrears (500 × ` 20) 10,000 40,000
44,90,000
2. AN EXTRACT OF BALANCE SHEET OF FARM PRODUCTS LTD. as at...
Particulars Note No. `
I. EQUITY AND LIABILITIES
Shareholders’ Funds
Share Capital 1 20,00,000
Note to Accounts
Particulars `
1. Share Capital
Authorised Capital
5,00,000 Equity Shares of ` 10 each 50,00,000
Issued Capital
2,00,000 Equity Shares of ` 10 each 20,00,000
Subscribed Capital
Subscribed and Fully Paid-up
2,00,000 Equity Shares of ` 10 each 20,00,000
,9.2 Double Entry Book Keeping—CBSE XII (Solutions)
3. AN EXTRACT OF BALANCE SHEET OF GLOBAL TRADE LTD.
as at...
Particulars Note No. `
I. EQUITY AND LIABILITIES
Shareholders’ Funds
Share Capital 1 42,50,000
Note to Accounts
Particulars `
1. Share Capital
Authorised Capital
1,00,000 Equity Shares of ` 100 each 1,00,00,000
Issued Capital
50,000 Equity Shares of ` 100 each 50,00,000
Subscribed Capital
Subscribed and Fully Paid-up
25,000 Equity Shares of ` 100 each 25,00,000
Subscribed but not Fully Paid-up
25,000 Equity Shares of ` 100 each, ` 70 called-up (Note) 17,50,000 42,50,000
Note: Securities Premium is received along with allotment money, in the absence of any information. Since, the
company has not made the call, it has received ` 70 (` 30 + ` 60 – ` 20 (Premium)) on 25,000 Equity Shares.
4. AN EXTRACT OF BALANCE SHEET OF STAR LTD.
as at...
Particulars Note No. `
I. EQUITY AND LIABILITIES
Shareholders’ Funds
Share Capital 1 23,63,000
Note to Accounts
Particulars `
1. Share Capital
Authorised Capital
50,000 Equity Shares of ` 100 each 50,00,000
Issued Capital
25,000 Equity Shares of ` 100 each 25,00,000
Subscribed Capital
Subscribed and Fully Paid-up
23,150 Equity Shares of ` 100 each 23,15,000
Subscribed but not Fully Paid-up
600 Equity Shares of ` 100 each, ` 100 called-up 60,000
Less: Calls-in-Arrears (600 × ` 20) 12,000 48,000 23,63,000
,Company Accounts—Accounting for Share Capital 9.3
Issue of Shares for Cash at Par
5. In the Books of Grand Marketing Ltd.
JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
Bank A/c ...Dr. 25,00,000
To Equity Shares Application and Allotment A/c 25,00,000
(Application money received for 2,50,000 shares @ ` 10 each)
Equity Shares Application and Allotment A/c ...Dr. 25,00,000
To Equity Share Capital A/c 25,00,000
(Application money transferred to Share Capital A/c on allotment)
6. JOURNAL OF BHARAT LTD.
Date Particulars L.F. Dr. (`) Cr. (`)
Bank A/c ...Dr. 8,00,000
To Equity Shares Application and Allotment A/c 8,00,000
(Application money received for 80,000 shares @ ` 10 each)
Equity Shares Application and Allotment A/c ...Dr. 8,00,000
To Equity Share Capital A/c 8,00,000
(Application money transferred to Share Capital A/c on allotment)
7. JOURNAL OF AKANKSHA LEATHERS LTD.
Date Particulars L.F. Dr. (`) Cr. (`)
Bank A/c ...Dr. 2,00,000
To Shares Application A/c 2,00,000
(Application money received on 10,000 shares @ ` 20 each)
Shares Application A/c ...Dr. 2,00,000
To Share Capital A/c 2,00,000
(Application money transferred to Share Capital A/c on allotment)
Shares Allotment A/c ...Dr. 3,00,000
To Share Capital A/c 3,00,000
(Allotment money due on 10,000 shares @ ` 30 each)
Bank A/c ...Dr. 3,00,000
To Shares Allotment A/c 3,00,000
(Allotment money received)
Shares First Call A/c ...Dr. 2,00,000
To Share Capital A/c 2,00,000
(First call due on 10,000 shares @ ` 20 each)
Bank A/c ...Dr. 2,00,000
To Shares First Call A/c 2,00,000
(First call money received)
Shares Second and Final Call A/c ...Dr. 3,00,000
To Share Capital A/c 3,00,000
(Final call due on 10,000 shares @ ` 30 each)
Bank A/c ...Dr. 3,00,000
To Shares Second and Final Call A/c 3,00,000
(Second and final call money received)
, 9.4 Double Entry Book Keeping—CBSE XII (Solutions)
8. JOURNAL OF NATIONAL TEXTILES LTD.
Date Particulars L.F. Dr. (`) Cr. (`)
(i) Shares Application A/c ...Dr. 90,000
To Share Capital A/c 90,000
(Application money transferred)
(ii) Shares Allotment A/c ...Dr. 1,20,000
To Share Capital A/c 1,20,000
(Allotment money due)
(iii) Shares First and Final Call A/c ...Dr. 90,000
To Share Capital A/c 90,000
(First and final call money due)
Dr. CASH BOOK Cr.
Particulars
` Particulars `
To Shares Application A/c 90,000 By Balance c/d 3,00,000
To Shares Allotment A/c 1,20,000
To Shares First and Call A/c 90,000
3,00,000 3,00,000
9. In the Books of Modern Dairies Ltd.
Dr. CASH BOOK (BANK COLUMN ONLY) Cr.
Particulars
` Particulars `
To Equity Shares Application A/c (1,000 × ` 10) 10,000 By Balance c/d 1,50,000
To 9% Pref. Shares Application A/c (500 × ` 25) 12,500
To Equity Shares Allotment A/c (1,000 × ` 40) 40,000
To 9% Pref. Shares Allotment A/c (500 × ` 25) 12,500
To Equity Shares First Call A/c (1,000 × ` 25) 25,000
To 9% Pref. Shares First and Final Call A/c (500 × ` 50) 25,000
To Equity Shares Second and Final Call A/c 25,000
(1,000 × ` 25)
1,50,000 1,50,000
JOURNAL
Date Particulars L.F. Dr. (`) Cr. (`)
Equity Shares Application A/c ...Dr. 10,000
To Equity Share Capital A/c 10,000
(Application money transferred to Share Capital A/c on allotment)
9% Preference Shares Application A/c ...Dr. 12,500
To 9% Preference Share Capital A/c 12,500
(Application money transferred to Share Capital A/c on allotment)
Equity Shares Allotment A/c ...Dr. 40,000
To Equity Share Capital A/c 40,000
(Allotment money due on Equity Shares)
9% Pref. Shares Allotment A/c ...Dr. 12,500
To 9% Pref. Share Capital A/c 12,500
(Allotment money due on Preference Shares)
Equity Shares First Call A/c ...Dr. 25,000
To Equity Share Capital A/c 25,000
(First call money due on Equity Shares)
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