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Question No 1 Chapter 1 - Unimax Class 12 Part 2 - 2021
The authorized capital of ABC Ltd. is ₹ 80,00,000 divided into 8,00,000 equity share of ₹ 10 each. Out of these, the company issued ₹ 4,00,000 equity shares for subscription to the public. The Public applied for ₹ 3,70,000 equity shares and all the money was duly received. How will you show the ‘share capital A/c in the balance sheet of ABC Ltd. also prepare ‘Note to Accounts for the same.
| Particulars |
Note No. |
Amount Current year |
Amount previous year |
|---|---|---|---|
| Equity and Liabilities | |||
| 1 Share holders funds | |||
| a. share capital | 1 | 37,00,000 |
Note to Amounts
| Particulars |
₹ |
|---|---|
| 1 share capital : | |
| Authorized capital | |
| 25,000 equity share of ₹ 200 each | 50,00,000 |
| Issued capital: | |
| 12,000 shares @ ₹ 200 each | 24,00,000 |
| Subscribed capital | |
| Subscribed and fully paid up capital | |
| 11,000 shares @ ₹ 200 each | 22,00,000 |
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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