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Bharat Ltd. was incorporated with a capital of Rs. 2,00,000 divided into shares of Rs. 10 each . 2,000 shares were offered for subscription and out of

Monjur Alahi

Bharat Ltd. was incorporated with a capital of Rs. 2,00,000 divided into shares of Rs. 10 each . 2,000 shares were offered for subscription and out of these, 1,800 shares were applied for and allotted. Rs. 3 per share (including Rs. 1 premium ) was payable on application, Rs. 4 per share (including Rs. 1 premium) on allotment, Rs. 2 per share on first call and Rs. 3 per share on final call. All the money was received. Give necessay Journal entries and show share capital in the Balance Sheet.


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Correct Answer - Subscribed Share Capital- Rs. 18,000.

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Amrit Ltd. Was promoted by Amrit and Bhaskar with an authorised capital of ₹ 10,00,000 divided into 1,00,000 shares of ₹ 10 each. The company deci

Correct Answer - Dr . Incorporation Expenses A//C - ₹ 2,00,000; Cr 6% Debentures A/C - ₹ 2,00,000.

2 Answers 1 views
Wellbeing Ltd. Took over assets of ₹ 9,80,000 and liabilities of ₹ 40,000 of HDR Ltd. At an agreed value of ₹ 9,00,000. Wellbeing Ltd. Paid to H

Correct Answer - (i) Dr. Sundry Assets A/c by ₹ 9,80,000, Cr. Sundry Liabilities A/c by ₹ 40,000; HDR Ltd by ₹ 9,00,000 and Capital Reserve A/c by ₹ 40,000....

2 Answers 1 views
Authorised capital of Suhani Ltd. is Rs. 45,00,000 divided into 30,000 shares of Rs. 150 each. Out of these company issued 15,000 shares of Rs. 150 ea

Correct Answer - Share Capital-Rs. 21,00,000.

2 Answers 1 views
Eastern Company Limited, having an authorised capital of Rs. 10,00,000 divided into shares of Rs. 10 each, issued 50,000 shares at a premium of Rs. 3

Correct Answer - Balance Sheet Total-Rs. 5,49,700.

2 Answers 1 views
The Kalyan Cotton Mills Ltd. was registered on 1st January, 2011 with a capital of Rs. 10,00,000 divided into 1,00,000 shares of Rs. 10 each . The com

Correct Answer - Balance Sheet Total-Rs. 3,98,100.

2 Answers 3 views
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Correct Answer - Forfeited Shares A/c-Rs. 7,500.

2 Answers 2 views
Slow & Steady Ltd. invited applications for 10,000 Equity Shares of Rs. 10 each for public subscription. The amount of these shares was payable as: On

Correct Answer - Capital Reserve-Rs. 750.

2 Answers 18 views
Kamal Ltd. was formed on 1st April, 2010 with an authorised capital of Rs. 2,00,000, divided into 2,000 Equity Shares of Rs. 100 each. 1,000 shares we

Correct Answer - Capital Reserve-Rs. 2,000; Balance Sheet Total-Rs. 1,69,500.

2 Answers 1 views
Krishna & Co. Ltd. with an authorised capital of Rs. 2,00,000 divided into 20,000 Equity Shares of Rs. 10 each, issued the entire amount of the shares

Correct Answer - Capital Reserve-Rs. 800; Balance Sheet Total-Rs. 2,40,500.

2 Answers 1 views
Dogra Ltd. had an authorised capital of Rs. 1,00,00,000 divided into Equity Shares of Rs. 100 each. The company offered 84,000 shares to the public at

Correct Answer - Capital Reserve-Rs. 14,000; Balance of Cash Book-Rs. 96,10,000.

2 Answers 4 views

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