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Question 04 Chapter 1 of +2-B
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Arrangement of Balance sheet Items
4. (Showing Full Format of Share Capital) A company has authorize share capital of Rs 10,00,000 divided into 75,000 Equity shares of Rs 10 each and 2,500 10% preference Shares of Rs 100 each. It issued 60% of Equity shares and 80% Preference Shares. Public Subscribed for 40,000 Equity share and 1,500 Preference Shares. On Equity shares company called up Rs 8 per share and on preference shares Rs 80 were called up. All calls were received on Preference shares but on 1,000 equity shares second call of calls of Rs 2 was not received. Out of 1,000 Equity Shares 600 were forfeited as the amount was not likely to be received.
Show share capital in Balance Sheet.
The solution of Question 04 Chapter 1 of +2-B: –
Balance Sheet
Particulars | Note no. | Amount |
I. Equity and Liabilities | ||
1. Shareholders’ Funds | ||
Share Capital | 1 | 4,38,000 |
Total | 4,38,000 |
Notes to Accounts
Particulars | Note no. | Amount |
1. Share Capital | ||
Authorised Capital | ||
75,000 equity Shares of Rs 10 each | 7,50,000 | |
2,500 10% Preference Shares of Rs 100 each | 2,50,000 | |
5,00,000 Shares of Rs 100 each | 10,00,000 | |
2. Issued Capital | ||
45,000 equity Shares of Rs 10 each | 4,50,000 | |
2,000, 10% Preference Shares of Rs 100 each | 2,00,000 | |
6,50,000 | ||
Subscribed Capital | ||
Subscribed & Fully Paid-up Capital | ||
39,400 equity Shares of Rs 10 each, Rs 8 called up | ||
Less: Calls in arrears (400 x Rs 2 ) | 3,18,000 | |
Add: Share Forfeited (600 x Rs 6 ) | ||
1,500, 10% Preference Shares of Rs 100 each, Rs 80 called up | 1,20,000 | |
4,38,000 |
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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
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
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