Question

The Kalyan Cotton Mills Ltd.was registered on 1st January, 2011 with a capital of ₹10,00,000 divided into 1,00,000 shares of ₹ 10 each. The company issued 42,000 shares of which 40,000 shares were taken up by the public and ₹ 1 per share was received with application. On 1st February, these shares were allotted and ₹ 2 per share was duly received on 28th February as allotment money. A first call of ₹ 3 per share was made on 1st March and the call money on all shares with the exception of 100 shares was received. The final call of ₹ 4 per share was made on 1st June and the amount due, with the exception of 400 shares was received by 30th June. Pass necessary journal ands Cash Book entries and prepare the Balance Sheet as at 30th June, 2011.

Answer 1

Answer:

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Answer 2

$Authorised capital share is 10,0000 of Rs.10 each\\Issued capital 42,000 share of Rs.10 each\\40,000 share applied and are payable as :\\On Application = Rs. 1\\On Allotment = Rs.2\\On first = Rs.3\\On final = Rs.4\\Total = Rs.10$