Question 02 Chapter 1 of +2-B – USHA Publication 12 Class

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 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 10 each		20,00,000
2. Issued Capital
1,00,000 Shares of Rs 10 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

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

• Chapter No. 1 – Accounting Not for Profit Organisations
• Chapter No. 2 – Partnership Accounts – I (Introduction)
• Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
• Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
• Chapter No. 8 – Company Accounts (Share Capital)
• Chapter No. 9 – Company Accounts (Issue of Debentures)
• Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis
• Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size  
• Chapter No. 4 – Ratio Analysis
• Chapter No. 5 – Cash Flow Statement

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