Question 03 Chapter 1 of +2-B
Arrangement of Balance sheet Items
3. (Subscribed but Not Full Paid up Capital) Assam Tea Company was registered with 5,00,000 equity shares of Rs 100 each. The company invited applications for Rs 4,00,000 Equity shares. However, only 3,00,000 shares where subscribed and allotment was made to all applicants. Company called Rs 80 per share. One shareholder holding 5,000 shares did not pay first call of Rs 10. Show share capital in balance Sheet.
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The solution of Question 03 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 | 2,39,50,000 |
| Total | 2,39,50,000 |
Balance Sheet of Punjab Steel Limited
| Particulars |
Note no. | Amount |
| 1. Share Capital | ||
| Authorised Capital | ||
| 5,00,000 Shares of Rs 100 each | 5,00,00,000 | |
| 2. Issued Capital | ||
| 4,00,000 Shares of Rs 100 each | 4,00,00,000 | |
| Subscribed Capital | ||
| Subscribed & Fully Paid-up Capital | ||
| 3,00,000 Shares of Rs 100 each, Rs 80 called up | ||
| Less :Calls in arrears (5,000 x Rs 10 ) | 2,39,50,000 | |
| 2,39,50,000 |
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: –
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
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