Question 02 Chapter 1 of +2-B
Arrangement of Balance sheet Items
2. (Exhibiting Not Full Paid-up Capital) Good Year Tyre Limited has an authorized capital of 20,00,000 divided into Rs 10 shares. It invited applications for 1,00,000 shares company received full face value on 99,000 shares. However, on 1,000 shares the final call of Rs 3 is not received.
Show the above in the Balance Sheet.
The Content covered in this article:
The solution of Question 02 Chapter 1 of +2-B: –
Balance Sheet of Punjab Steel Limited
| Particulars |
Note no. | Amount |
| I. Equity and Liabilities | ||
| 1. Shareholders’ Funds | ||
| Share Capital | 1 | 9,97,000 |
| Total | 9,97,000 |
Balance Sheet of Punjab Steel Limited
| Particulars |
Note no. | Amount |
| 1. Share Capital | ||
| Authorised Capital | ||
| 2,00,000 Shares of Rs 100 each | 20,00,000 | |
| 2. Issued Capital | ||
| 1,00,000 Shares of Rs 100 each | 10,00,000 | |
| Subscribed Capital | ||
| Subscribed & Fully Paid-up Capital | ||
| 99,000 Shares of Rs 10 each | 9,90,000 | |
| Subscribed but not Fully Paid-up Capital | ||
| 1,000 Shares of Rs 100 each | ||
| Less :Calls in arrears (1,000 x Rs 3 ) | 7,000 | |
| 9,97,000 |
To understand more about Balance Sheet please check out following links:
Balance Sheet: Meaning, Format & Examples
Thanks, Please Like and share with your friends
Comment if you have any question.
Also, Check out the solved question of previous Chapters: –
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
