Issue of Shares (case study based questions) Class 12th Accounts скачать в хорошем качестве

Issue of Shares (case study based questions) Class 12th Accounts

Issue of Shares (case study based questions) Class 12th Accounts Instagram Link : https://www.instagram.com/manojsharma... 25. Following is the extract of the Balance Sheet of Vikalp Ltd. as per Schedule-III, Part-I of Companies Act as at 31st March, 2024 along with Notes to accounts: Vikalp Ltd. Balance Sheet as at 31st March, 2024 Particulars No. Note 31.3.2024 (2) 31.3.2023 (2) 1. EQUITY AND LIABILITIES 1. Shareholders' Funds (a) Share Capital 59,60,000 'Notes to accounts' as at 31 March, 2023: Note No. 1. Particulars 31-3-2023 (2) Share Capital: Authorised capital 9,00,000 equity shares of 10 each Issued Capital: 5,00,000 equity shares of ₹10 each Subscribed capital: Subscribed and fully paid up 5,00,000 equity shares of ₹10 each Nil Subscribed but not fully paid up 'Notes to accounts' as at 31 March, 2024: 1 Particulars 31-3-2024 (2) 1. Note No. Share Capital: Authorised capital 9,00,000 equity shares of ₹10 each Issued Capital: 6,00,000 equity shares of ₹10 each Subscribed Capital: Subscribed and fully paid up 5,80,000 equity shares of ₹10 each Subscribed but not fully paid up 58,00,000 20,000 equity shares of ₹10 each, fully called up Less: Calls in arrears 20,000 equity shares @ 2 per share 40,000 1,60,000 Answer the following Questions: (i) The total face value of equity shares issued during the year 2023-2024 was: (A) ₹10,00,000 (B) ₹9,80,000 (C) ₹4,20,000 (D) ₹11,00,000 (ii) The number of shares on which the called up amount was not received were: (A) 1,00,000 (B) 80,000 (C) 3,00,000 (D) 20,000 (iii) On 1st April, 2024 Vikalp Limited forfeited all the shares on which the called up amount was not received. On forfeiture, 'Share Capital Account' will be debited by: (A) ₹1,60,000 (B) ₹40,000 (C) ₹2,00,000 (D) ₹2,40,000 (iv) On forfeiture, 'Share Forfeiture Account' will be credited with: (A) ₹1,60,000 (B) ₹40,000 (C) ₹2,00,000 (D) 2,40,000 (v) If all the forfeited shares are reissued at 8 per share fully paid up, the amount credited to 'Capital Reserve A/c' will be: (A) ₹40,000 (B) ₹1,60,000 (C) ₹2,00,000 (D) ₹1,20,000 (vi) If the forfeited shares are reissued at the minimum permissible price, the amount credited to 'Capital Reserve Account' will be : (A) ₹2,00,000 (B) ₹1,60,000 (C) ₹40,000 (D) NIL Cosmos Ltd. was formed with authorised capital of 12,00,000 divided into 1,20,000 equity shares of 10 each. The company allotted 4,000 equity shares as fully paid to the signatories of the Memorandum of Association and 3,000e-quity shares as fully paid to the Vendor for purchase of Machinery. Casio Ltd. also offered 20,000 equity shares to public. The issue price was payable as under: on Application-3, on First and Final call-balance. The company did not make call during the year. Applications were received for 20,000 shares. All money were duly received except the allotment money on 2,000 shares w-hich were forfeited. Later 500 of the forfeited shares were reissued at 6 per share, 8 called-up. Answer the following questions on the basis of the above information: (A) State the amount of Authorised Capital of the company. (a) (b) ₹8,00,000 (c) 12,00,000 (d) 12,30,000 (B) State the amount of Issued Capital. (a) (b) 30,000 (c) ₹2,70,000 (d) 2,50,000 (C) State the amount of Subscribed and Fully Paid-up Capital. (a) 1,60,000 (b) ₹1,00,000 (c) ₹70,000 (d) ₹2,00,000 (D) State the amount of Subscribed but not Fully Paid-up Capital. (a) 1,20,000 (b) 1,48,000 (c) 1,60,000 (d) 2,00,000 (E) State the balance of 'Forfeited Shares Account' after reissue of shares. (a) 6,000 (b) ₹7,500 (c) ₹8,000 (d) ₹5,000 (F) State the amount of share capital which will be shown in the Balance Sheet of the company. (a) 2,20,000 (c) 2,29,500 (b) 2,25,000 (d) 2,25,500