Question 03 Chapter 1 of +2-B – USHA Publication 12 Class

Question 03 Chapter 1 of +2-B

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.

 

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: –

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

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

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 3 min 225x300 - Question 03 Chapter 1 of +2-B  - USHA Publication  12 Class
T.S. Grewal’s Analysis of Financial Statements

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