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A company has passed a resolution to call Rs 2 per share in the event of it being wound up. Balance amount, i.e., Rs 8 per share has been called and also received. How will it be classified in the Balance Sheet of the company?

Class 12 Accounts in Class 12 3 years ago

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Solution :It will be classified or shown as 'Subscribed but Not FULLY Paid-up' because the company has called and RECEIVED Rs 8 per SHARE against its nominal (face) value of Rs 10.
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Posted on 04 Dec 2021, this text provides information on Class 12 related to Accounts in Class 12. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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