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. Mohan Ltd. issued 50,000 shares …

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. Mohan Ltd. issued 50,000 shares of 20 each. It received applicationsfor 45,000 shares and these were accepted. It did not make final call of 5. Ram holding 1,000 shares did not pay share first call of 5 and his shares were forfeited. Y failed to pay share first call on 2,000 shares. Show how the share capital will appear in the Balance Sheet of the company as on 31st March, 2020? [Ans. Share Capital 6,60,000; Notes to Accounts : Subscribed but not fully paid * 6,60,000 of which 10,000 (Calls-in-Arrears); and Add : Share Forfeiture A/c 10,000]

Posted by Utsav Bhardwaj 2 years, 6 months ago

CBSE > Class 12 > Accountancy

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