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

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

• 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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