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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Sunstar Ltd. has an authorised capital of ₹20,00,000, divided into equity shares of ₹10 each. The company invited applications for 60,000 shares. Applications were received for 58,000 shares. All calls were made and duly received except the final call of ₹3 per share on 2,000 shares. Present the Share Capital in the Balance Sheet as per Schedule III, Part I of the Companies Act, 2013, along with Notes to Accounts. (CBSE 2023)
BALANCE SHEET OF SUNSTAR LTD. (Extract)
| Particulars | Note No. | ₹ |
|---|---|---|
| I. Equity and Liabilities | ||
| 1. Shareholders’ Funds: Share Capital | 1 | 5,74,000 |
| Total | 5,74,000 | |
| II. Assets | ||
| 2. Current Assets: 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: 58,000 Equity Shares of ₹10 each | 5,80,000 |
| Subscribed and Fully Paid-up: 56,000 Equity Shares of ₹10 each | 5,60,000 |
| Subscribed but not Fully Paid-up: 2,000 Equity Shares of ₹10 each | 20,000 |
| Less: Calls-in-Arrears (2,000 × ₹3) | (6,000) |
| Total Share Capital | 5,74,000 |
| 2. Cash and Cash Equivalents | |
| Bank | 5,74,000 |
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.3 - 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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