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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
The authorised capital of Suhani Ltd. is ₹45,00,000, divided into 30,000 shares of ₹150 each. Of these, the company issued 15,000 shares of ₹150 each at a premium of ₹10 per share, payable: ₹50 per share on application, ₹40 per share on allotment (including premium), ₹30 per share on first call, and the balance on final call. The public applied for 14,000 shares. All money was duly received. Prepare an extract of the Balance Sheet as per Schedule III, Part I of the Companies Act, 2013, along with Notes to Accounts.
BALANCE SHEET OF SUHANI LTD. (Extract)
| Particulars | Note No. | ₹ |
|---|---|---|
| I. Equity and Liabilities | ||
| 1. Shareholders’ Funds | ||
| a. Share Capital | 1 | 21,00,000 |
| b. Reserves and Surplus | 2 | 1,40,000 |
| Total | 22,40,000 | |
| II. Assets | ||
| Current Assets: Cash and Cash Equivalents | 3 | 22,40,000 |
| Total | 22,40,000 |
NOTES TO ACCOUNTS
| Particulars | ₹ |
|---|---|
| 1. Share Capital | |
| Authorised Share Capital: 30,000 shares of ₹150 each | 45,00,000 |
| Issued Share Capital: 15,000 shares of ₹150 each | 22,50,000 |
| Subscribed, Called-up and Paid-up: 14,000 shares of ₹150 each | 21,00,000 |
| 2. Reserves and Surplus | |
| Securities Premium Reserve (14,000 × ₹10) | 1,40,000 |
| 3. Cash and Cash Equivalents | |
| Cash at Bank | 22,40,000 |
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.
This guide covers "T.S. Grewal Class 12 Vol 2 Chapter 1 Q.18 - Share Capital", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 1 - Share Capital.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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