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: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
Chapter No. 1 – Accounting Not for Profit Organisations
Chapter No. 2 – Partnership Accounts – I
Chapter No. 3 – Partnership Accounts – II (Introduction)
Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)
Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)
Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)
Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)
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 (Balance Sheet Only)
Chapter No. 2 – Techniques of Financial Statement Analysis
Chapter No. 3 – Ratio Analysis
Chapter No. 4 – Cash Flow Statement
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