11th | Special Purpose Books II- Other Books | Question No. 13 and 14 | Ts Grewal Solution 2022-2023
Question 5:
Star Ltd. is registered with capital
of ` 50,00,000
divided into 50,000 equity shares of ` 100 each, The Company issued 25,000 equity shares for
subscription. Subscription was received for 23,750 shares and all the due
amount was duly received, except the first and final call of `
20 per share on 600 shares. Show the 'Share Capital' in the Balance Sheet of the company.
Answer:
|
In
the books of Star
Ltd. An
Extract of Balance Sheet As
at ………. |
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Particulars |
Note
No. |
|
|
I. Equity And LiabilitiesShareholders’
Funds |
|
|
|
Share Capital |
1 |
23,63,000 |
|
|
|
|
|
Notes to Accounts: |
|||
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Note
No. |
Particulars |
|
|
|
1. |
Share Capital |
|
|
|
|
Authorised Capital |
|
|
|
|
50,000 equity shares of `100
each |
|
50,00,000 |
|
|
|
|
|
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Issued Capital |
|
|
|
|
25,000 shares of `100
each |
|
25,00,000 |
|
|
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Subscribed Capital |
|
|
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23,750 shares of `100
each |
23,75,000 |
|
|
|
Less:
Calls-in-Arrears (600 × 20) |
12,000 |
23,63,000 |
|
|
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|
23,63,000 |
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Question
6:
Grand Hotels Ltd. had authorised capital of `50,00.000
divided into 50,000 Equity Shares of `100 each. It issued 10,000 Equity Shares to public for
subscription on the following terms:
|
On Application |
`40 per share |
|
On Allotment |
`30 per share |
Balance on First and Final call.
Shares were fully subscribed and
amounts called were duly received. First and Final call was not yet made.
Prepare Balance Sheet of the company
showing Share Capital.
Answer:
Authorised Capital 50,00,000 equity shares of ` 100 each
Issued
and Subscribed Capital 10,000 shares
|
Balance Sheet of East
India |
||
|
Particulars |
Note No. |
(`) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
Share Capital |
1 |
7,00,000 |
|
|
|
|
|
Notes
to Accounts |
|
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Particulars |
(`) |
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1. Share Capital |
|
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|
Authorised Share Capital |
|
||
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50,000 Equity Shares of ` 100 each |
50,00,000 |
||
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|
|
||
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50,00,000 |
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Issued
Share Capital |
|
||
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10,000 Equity Shares of ` 100 each |
1,00,000 |
||
|
|
|
1,00,000 |
|
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Subscribed
Share Capital Subscribed
and But not Fully Paid-up Share Capital |
|
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10,000 Equity Shares of 100 each
(Called-up ` 70) |
7,00,000 |
||
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|
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||
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7,00,000 |
|
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Question
7:
Altaur Ltd. was registered with an authorised
Capital of ₹ 4,00,00,000 divided in
25,00,000 Equity Shares of ₹10
each and 1,50,000, 9% Preference Shares of
₹100 each. The company issued 8,00,000 Equity Shares for public
subscription at 20% premium, payable ₹3 on application; ₹7 on
allotment (including premium) and balance on call. Public had applied for 10,00,000 shares. Excess Applications were sent letters of regret.
All the dues on allotment were
received except on 15,000 shares held by Sanju.
Another shareholders Rocky paid his call dues along with allotment on his
holding of 25,000
shares. You are required to prepare the Balance Sheet of the company as per Schedule III of Companies Act, 2013, showing Share Capital
Balance and also prepare Notes to Accounts.
Answer:
|
Balance Sheet of Altaur Ltd |
||
|
Particulars |
Note No. |
(`) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
a. Share Capital |
1 |
63,25,000 |
|
Notes
to Accounts |
|
||
|
Particulars |
(`) |
||
|
1. Share Capital |
|
||
|
Authorised Share Capital |
|
||
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25,00,000 Equity Shares of ` 10 each |
2,50,00,000 |
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1,50,000 Preference Shares of ` 100 each |
1,50,00,000 |
||
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40,00,000 |
||
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Issued
Share Capital |
|
||
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8,00,000 Equity Shares of ` 10 each |
80,00,000 |
||
|
|
|
80,00,000 |
|
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Subscribed
Share Capital Subscribed
and Fully Paid-up Share Capital 7,85,000 Equity Shares of ` 10 each [Paid-up and Called-up `8) Subscribed
and But not Fully Paid-up Share Capital |
6,280,000 |
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15,000 Equity Shares of `8 each [Paip-up`3 each (Called-up `8)] |
1,20,000 |
|
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Less: Calls-in-Arrears (15,000×5) |
(75,000) |
45,000 |
|
|
|
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63,25,000 |
|
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Question
8:
Fragrances Ltd. was
registered with capital of ₹ 5,00,000 divided into 50,000
Equity Shares of ₹10 each. It
issued 20,000 Equity Shares to public for subscription. The shares were
subscribed and calls were made and received except first and final call of ₹2 on 500
shares held by Varun.
Prepare Balance Sheet of the company
showing Share Capital.
Answer:
|
Balance Sheet of Fragrances
Ltd. |
||
|
Particulars |
Note No. |
(`) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
Share Capital |
|
1,99,000 |
|
Notes
to Accounts |
|
||
|
Particulars |
(`) |
||
|
1. Share Capital |
|
||
|
Authorised Share Capital |
|
||
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50,000 Equity Shares of ` 10 each |
5,00,000 |
||
|
|
|
||
|
|
5,00,000 |
||
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Issued
Share Capital |
|
||
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20,000 Equity Shares of ` 10 each |
2,00,000 |
||
|
|
|
2,00,000 |
|
|
Subscribed
Share Capital Subscribed
and Fully Paid-up Share Capital 19,500 Equity Shares of ` 10 each Subscribed
and But not Fully Paid-up Share Capital |
1,95,000 |
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500 Equity Shares of 10 each |
5,000 |
|
|
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Less: Calls-in-Arrears (500×2) |
(1,000) |
4,000 |
|
|
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1,99,000 |
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11th | Special Purpose Books II- Other Books | Question No. 13 and 14 | Ts Grewal Solution 2022-2023
Ts Grewal Solution 2024-2025
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