Give one point of distinction between Authorised Capital and Issued Capital. Post category:Accountancy Reading time:1 mins read SOLUTION Authorised capital refers to the maximum capital for which a company is authorised to issue whereas issued capital is that part of authorised capital which is offered for subscription. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostGive the meaning of ‘Subscribed and Fully Paid-up Capital. (C.B.S.E. Sample Paper 2013) Next PostDifferentiate between ‘Issued Share Capital’ and ‘Subscribed Share Capital’. (C.B.S.E. 2016 Comptt. All India) You Might Also Like What does a low proprietary ratio indicate? October 3, 2022 The Hindustan Manufacturing Ltd. had a total subscribed capital of Rs. 10,00,000 in Equity Shares of Rs. 10 each of which Rs. 7.50 were called-up. A final call of Rs. 2.50 was made and all amount paid except two calls of Rs. 2.50 each in respect of 100 shares held by D. These shares were forfeited and reissued at Rs. 8 per share. Pass necessary journal entries (including that of cash) to record the transactions of final call, forfeiture of shares and reissue of forfeited shares. Also, prepare the Balance Sheet of the company. July 14, 2022 Chhavi and Neha were partners in a firm sharing profits and losses equally. Chhavi withdrew a fixed amount of Rs. 6,000 at the beginning of each quarter. Interest on drawings is charged @ 6% p.a. Pass necessary journal entry for charging interest on drawings at the end of the year. (C.B.S.E. 2019, M.P.) September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
The Hindustan Manufacturing Ltd. had a total subscribed capital of Rs. 10,00,000 in Equity Shares of Rs. 10 each of which Rs. 7.50 were called-up. A final call of Rs. 2.50 was made and all amount paid except two calls of Rs. 2.50 each in respect of 100 shares held by D. These shares were forfeited and reissued at Rs. 8 per share. Pass necessary journal entries (including that of cash) to record the transactions of final call, forfeiture of shares and reissue of forfeited shares. Also, prepare the Balance Sheet of the company. July 14, 2022
Chhavi and Neha were partners in a firm sharing profits and losses equally. Chhavi withdrew a fixed amount of Rs. 6,000 at the beginning of each quarter. Interest on drawings is charged @ 6% p.a. Pass necessary journal entry for charging interest on drawings at the end of the year. (C.B.S.E. 2019, M.P.) September 26, 2022