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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Shri 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, payable as: On Application ₹4 per share; On Allotment ₹4 per share; On First and Final Call the balance. The issue was fully subscribed. All amounts were duly received except the first and final call on 4,000 shares. Show the Share Capital in the Balance Sheet as per Schedule III, Part I of the Companies Act, 2013, along with Notes to Accounts.
BALANCE SHEET OF SHRI GANGA LTD. (Extract)
| Particulars | Note No. | ₹ |
|---|---|---|
| I. Equity and Liabilities | ||
| 1. Shareholders’ Funds: Share Capital | 1 | 4,92,000 |
| Total | 4,92,000 | |
| II. Assets | ||
| 2. Current Assets: 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 |
| Subscribed and Fully Paid-up: 46,000 Equity Shares of ₹10 each | 4,60,000 |
| Subscribed but not Fully Paid-up: 4,000 Equity Shares of ₹10 each | 40,000 |
| Less: Calls-in-Arrears (4,000 × ₹2) | (8,000) |
| Total Share Capital | 4,92,000 |
| 2. Cash and Cash Equivalents | |
| Bank | 4,92,000 |
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.2 - 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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