ISSUE OF SHARES COMPANY ACCOUNTS T.S.Grewal Ch-8 Que no-27 & 28 (Calls in Arrears & Balance Sheet

ISSUE OF SHARES COMPANY ACCOUNTS T.S.Grewal Ch-8 Que no-27 & 28 (Calls in Arrears & Balance Sheet) Class 12 Accounts Instagram Link : https://www.instagram.com/manojsharma... 27. The authorised capital of Sarang Ltd. is 1,20,00,000 divided into 12,00,000 shares of 10 each. Out of these, company issued 8,00,000 shares of 10 each at a premium of 20%. The amount per share was payable as follows: On Application 2 On Allotment 6 (including premium) On First Call 2 On Final Call Balance Public applied for 7,80,000 shares. All the money was duly received. Prepare an extract of Balance Sheet of Sarang Ltd. as per Schedule III, Part I of the Companies Act, 2013, disclosing the above information. Also prepare 'Notes to Accounts' for the same. (Foreign 2013, Modified) [Ans.: Balance Sheet Total-93,60,000.] Calls-in-Arrears and Calls-in-Advance 28. Ghosh Ltd. made the second and final call on its 50,000 Equity Shares @2 per share on 1st January, 2016. The entire amount was received on 15th January, 2016 except on 100 shares allotted to Venkat. Pass necessary Journal entries for the call money due and received by opening Calls-in-Arrears Account. (AI 2006 C, Modified) #msacademyaccounts #accountancy #tsgrewal2023 #accounts #accounting #issueofshares