CBSE Class 12 Accountancy Issue of Shares Assignment

CBSE Class 12 Accountancy Issue of Shares Assignment. Chapter wise assignments are being given by teachers to students to make them understand the chapter concepts. Its extremely critical for all CBSE students to practice all assignments which will help them in gaining better marks in examinations. All assignments available for free download on the website are developed by the best teachers having many years of teaching experience in CBSE schools all over the country. Students, teachers and parents are advised to download the CBSE study material.

 

1. S Ltd. offers 1,00,000 equity shares of Rs.10 each payable Rs.3 on application, Rs.3 on allotment(including premium Rs.2), Rs.4 on first call three months after allotment and Rs.2 on final call three months after first call. Applications were received for 1,58,500 shares and allotment was made as under:
Shares Allotted
Allotment in full 19,000
(Mr. D paid in full on allotment in respect of 4,000 shares)
Allotment of 2/3 of shares applied for 80,000
Allotment of 1/2 of shares applied for 1,000
Application money of Rs.52,500 in respect of 17,500 shares upon which no allotment was made was returned to applicants. All amounts were received except final call on 100 shares which were forfeited
and reissued later on Rs.9 each. Interest on call in advance is paid @ 12% p.a.(capital reserve Rs.700)
 
2. Rajesh Ltd. issued a prospectus inviting applications for 3,00,000 shares of Rs.10 each at a premium of Rs.4 per share, payable as follows:
On Application                        Rs.4(including Rs.1 premium)
On Allotment                         Rs.3(including Rs.1 premium)
On First Call                          Rs.4(including Rs.1 premium)
On Second and Final call        Rs.3(including Rs.1 premium)
Applications were received for 3,80,000 shares and pro-rata allotment was made on the applications for 3,50,000 shares. It was decided to utilise excess application money towards the sums due on allotment.
X, to whom 6,000 shares were allotted, failed to pay the allotment money and his shares were forfeited after allotment.
Y, who applied for 10,500 shares failed to pay the two calls and on his such failure, his shares were forfeited.
Z, who was allotted 3,000 shares did not pay the final call.
Of the shares forfeited, 11,000 shares were reissued as fully paid up for Rs.9 per share, the whole of Y's share being included. Prepare Cash Book, Journal and show the Share Capital in the Balance Sheet.(capital reserve Rs.41,333)
 

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