Question 1:
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 |
|
|
|
a. 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 |
|
|
|
|
|
Question 2:
Ganga Ltd. was registered with an authorised capital of ₹7,00,000 divided into Equity Shares of ₹10 each. It offered to the public for subscription 50,000 equity shares. The amount was payable as follows:
|
On Application: |
₹4 per share |
|
On Allotment: |
₹4 per share |
|
On first and final Call: |
Balance |
The issue was fully subscribed. All amounts were duly received except the first and final call on 4000 shares.
Show the share capital in the balance sheet of company as per schedule III, Part I of Company Act, 2013. Also prepare ‘Notes to account’ for the same.
Answer:
|
Balance Sheet of Ganga Ltd. |
||
|
Particulars |
Note No. |
(₹) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
a. Share Capital |
1 |
4,92,000 |
|
Total |
|
4,92,000 |
|
II Assets |
|
|
|
2. Current Assets |
|
|
|
a. Cash and Cash Equivalents |
2 |
4,92,000 |
|
Total |
|
4,92,000 |
|
Notes to Accounts |
||
|
Particulars |
(₹) |
|
|
1. Share Capital |
|
|
|
Authorised Share Capital |
|
|
|
70,000 Equity Shares of ₹10 each |
7,00,000 |
|
|
Issued Share Capital |
|
|
|
50,000 Equity Shares of ₹10 each |
5,00,000 |
5,00,000 |
|
Subscribed Share Capital |
|
|
|
Fully Called-up & Paid-up Capital |
|
|
|
46,000 Equity Shares of ₹10 each |
4,60,000 |
|
|
Partially Called-up & Paid-up Capita |
|
|
|
4,000 Equity Shares of ₹10 each 40,000 |
||
|
Less: Calls-in- arrears 8,000 |
32,000 |
|
|
(4,000 @ ₹2 each on first and final call) |
||
|
4,92,000 |
||
|
|
|
|
|
2. Cash and Cash Equivalents |
|
|
|
Bank |
4,92,000 |
|
|
|
|
|
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 |
|
|
|
b. 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:
Jiva 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 Jiva Ltd. An Extract of Balance Sheet As at ………. |
||
|
Particulars |
Note No. |
|
|
Equity And Liabilities Shareholders’ Funds |
|
|
|
Share Capital |
1 |
23,63,000 |
|
|
|
|
|
Notes to Accounts: |
|||
|
Note No. |
Particulars |
|
|
|
1. |
Share Capital |
|
|
|
|
Authorised Capital |
|
|
|
|
50,000 equity shares of ₹100 each |
|
50,00,000 |
|
|
|
|
|
|
|
Issued Capital |
|
|
|
|
25,000 shares of ₹100 each |
|
25,00,000 |
|
|
|
|
|
|
|
Subscribed Capital |
|
|
|
|
23,750 shares of ₹100 each |
23,75,000 |
|
|
|
Less: Calls-in-Arrears (600×20) |
12,000 |
23,63,000 |
|
|
|
|
23,63,000 |
|
|
|
|
|
Ts Grewal Solution 2026-2027
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Class 12 / Volume – 2
Chapter 1- Company Accounts- Accounting for Share Capital
Question No. 1 To 4
Question No. 5 To 8
Question No. 9 To 12
Question No. 13 To 16
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Question No. 25 To 28
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