A company has 500 shares of face value Rs.50 in which Rs.30 is paid-up. The company collects Rs.12,000 as the second instalment. What is the paid-up value of each share now?
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....