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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Excel Ltd. was registered with a capital of ₹5,00,000 divided into 50,000 Equity Shares of ₹10 each. It issued 20,000 Equity Shares to the public for subscription. The shares were subscribed, and calls were made and received except the first and final call of ₹2 on 500 shares held by Varun. Prepare the Balance Sheet showing Share Capital.
BALANCE SHEET OF EXCEL LTD. (Extract)
| Particulars | Note No. | ₹ |
|---|---|---|
| Shareholders’ Funds: Share Capital | 1 | 1,99,000 |
NOTES TO ACCOUNTS
| Particulars | ₹ |
|---|---|
| 1. Share Capital | |
| Authorised Share Capital: 50,000 Equity Shares of ₹10 each | 5,00,000 |
| Issued Share Capital: 20,000 Equity Shares of ₹10 each | 2,00,000 |
| Subscribed and Fully Paid-up: 19,500 Equity Shares of ₹10 each | 1,95,000 |
| Subscribed but not Fully Paid-up: 500 Equity Shares of ₹10 each | 5,000 |
| Less: Calls-in-Arrears (500 × ₹2) | (1,000) |
| Net | 4,000 |
| Total Share Capital | 1,99,000 |
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.7 - 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.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "T.S. Grewal Class 12 Vol 2 Chapter 1 Q.7 - Share Capital" instantly.