Question 1:
Hari Aggarbatti Ltd. was registered
with capital of `50,00,000
divided into 5,00,000 Equity Shares of `10each. It issued 1,00,000 Equity
Shares to public for subscription. The
shares were subscribed and calls made were received.
Prepare Balance Sheet of the company
showing share capital.
Answer:
|
Hari Agarbatti Ltd. |
||
|
Balance
Sheet |
||
|
Particulars |
Note
No. |
(`) |
|
I.Equity and Liabilities |
|
|
|
Shareholders’ Funds |
|
|
|
Share Capital |
1 |
10,00,000 |
|
Total |
|
10,00,000 |
|
|
|
|
|
II.Assets |
|
|
|
Current Assets |
|
|
|
Cash and Cash Equivalents |
2 |
10,00,000 |
|
Total |
|
10,00,000 |
|
|
|
|
NOTES TO ACCOUNTS
|
|
|||
|
Note
No. |
Particulars |
(`) |
|
|
1 |
Share Capital |
|
|
|
|
Authorised Share Capital |
|
|
|
|
5,00,000 equity shares of ` 10 each |
50,00,000 |
|
|
|
Issued Share Capital |
|
|
|
|
1,00,000 equity shares of ` 10 each |
10,00,000 |
|
|
|
Subscribed and Fully Paid-up Share Capital |
|
|
|
|
1,00,000 equity shares of ` 10 each |
10,00,000 |
|
|
|
|
|
|
|
|
|
|
|
|
2 |
Cash and Cash Equivalents |
|
|
|
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Cash at Bank |
10,00,000 |
|
|
|
|
|
|
Question 2:
Farm Products Ltd has authorised
share capital of ` 50,00,000 divided into 5,00,000 Equity Shares of ` 10 each. It has existing issued and paid up capital of `5,00,000.
It further issued to public 1,50,000 Equity Shares at
par for subscription payable as under:
|
On Application: |
` 3 |
|
On Allotment: |
` 4 and |
|
On Call: |
Balance Amount. |
The issue was fully subscribed and
allotment was made to all the applicants. Call was made during the year and was
duly received.
Show share capital of the company in the Balance Sheet of the Company.
Answer:
|
Balance Sheet of Farm Products Ltd |
||
|
Particulars |
Note No. |
(`) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
a. Share Capital |
1 |
20,00,000 |
|
Total |
|
20,00,000 |
|
II. Assets |
|
|
|
2. Current Assets |
|
|
|
a.
Cash and
Cash Equivalents |
2 |
20,00,000 |
|
Total |
|
20,00,000 |
|
Notes
to Accounts |
|
||
|
Particulars |
(`) |
||
|
1. Share Capital |
|
||
|
Authorised Share Capital |
|
||
|
5,00,000 Equity Shares of `
10 each |
50,00,000 |
||
|
Issued Share Capital |
|
||
|
50,000 Equity Shares of `
10 each |
5,00,000 |
|
|
|
1,50,000 Equity Shares of `
10 each |
15,00,000 |
20,00,000 |
|
|
Subscribed and Paid-up Share Capital |
|
||
|
50,000 Equity Shares of `
10 each |
5,00,000 |
|
|
|
1,50,000 Equity Shares of `
10 each |
15,00,000 |
20,00,000 |
|
|
|
|
||
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2. Cash and Cash Equivalents |
|
||
|
Bank |
20,00,000 |
||
|
|
|
||
Question 3:
Sunstar Ltd. has an authorized capital of ₹20,00,000 divided
into equity shares of `10 each. The company
invited applications for issuing 60,000 shares. Applications were received for
58,000 shares.
All calls were made and were duly received except the
final call of ₹3
per share on 2,000 shares. These shares were forfeited.
Present the 'Share Capital' in the Balance Sheet of the Company as per Schedule III, Part I
of the Companies Act, 2013. Also prepare
'Notes to Accounts' for the same.
(CBSE 2023)
Answer:
|
Balance
Sheet of Sunstar Ltd. |
||
|
Particulars |
Note
No. |
(`) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
a. Share Capital |
1 |
5,74,000 |
|
|
|
|
|
Total |
|
5,74,000 |
|
II Assets |
|
|
|
2. Current Assets |
|
|
|
a.
Cash and
Cash Equivalents |
2 |
5,74,000 |
|
Total |
|
5,74,000 |
|
|
Notes to Accounts |
||
|
Particulars |
|
(`) |
|
|
1.
Share Capital |
|
|
|
|
Authorised Share Capital |
|
|
|
|
2,00,000 Equity Shares of `
10 each |
|
20,00,000 |
|
|
Issued Share Capital |
|
6,00,000 |
|
|
Subscribed Share Capital |
|
|
|
|
Fully Called-up & Paid-up Capital |
|
|
|
|
56,000
Equity Shares of ` 10 each |
|
5,60,000 |
|
|
Partially Called-up & Paid-up Capital |
|
|
|
|
2,000
Equity Shares of ` 10 each |
20,000 |
|
|
|
Less:
Calls-in-arrears (2000×3) |
6,000 |
14,000 |
|
|
|
|
|
|
|
|
|
5,74,000 |
|
|
|
|
|
|
|
3.
Cash and Cash Equivalents |
|
|
|
|
Bank |
|
5,74,000 |
|
|
|
|
|
|
Question 4:
Global Trade Ltd .
has authorised share capital
of ` 1,00,00,000 divided into 1,00,000 Equity Shares of
` 100 each . It has existing issued and paid up capital
of ` 25,00,000. It further issued to public 25,000 Equity Shares at a
premium of 20%
for subscription payable as under:
|
On Application: |
`
30 |
|
On Allotment: |
`
60 and |
|
On Call: |
Balance Amount. |
The issue was fully subscribed and allotment was made to all the applicants . The company did not make the call during the
year.
Show share capital of the company in the Balance Sheet of the Company.
Answer:
|
Balance
Sheet of Fancy co. Ltd. |
||
|
Particulars |
Note
No. |
(`) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
a. Share Capital |
1 |
42,50,000 |
|
b. Reserves and Surplus |
2 |
5,00,000 |
|
Total |
|
47,50,000 |
|
II Assets |
|
|
|
2. Current Assets |
|
|
|
b.
Cash and
Cash Equivalents |
3 |
47,50,000 |
|
Total |
|
47,50,000 |
|
Notes
to Accounts |
||
|
Particulars |
(`) |
|
|
1. Share Capital |
|
|
|
Authorised Share Capital |
|
|
|
1,00,000 Equity Shares of `
100 each |
1,00,00,000 |
|
|
Issued Share Capital |
|
|
|
25,000 Equity Shares of `
100 each |
25,00,000 |
|
|
25,000 Equity Shares of `
100 each |
25,00,000 |
50,00,000 |
|
Subscribed Share Capital |
|
|
|
Fully Called-up & Paid-up Capital |
|
|
|
25,000 Equity Shares of `
100 each |
25,00,000 |
|
|
Partially Called-up & Paid-up Capital |
|
|
|
25,000 Equity Shares of `
100 each, 70 called-up |
17,50,000 |
|
|
|
42,50,000 |
|
|
2. Reserves and Surplus |
|
|
|
Securities Premium Reserve |
5,00,000 |
|
|
|
|
|
|
3. Cash and Cash Equivalents |
|
|
|
Bank |
47,50,000 |
|
|
|
|
|
Ts Grewal Solution 2024-2025
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Class 12 / Volume – II