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Question 12 Chapter 4 -Unimax Publication Class 12 Part 2 – 2021

Question no- 12 Chapter no -4 Unimax Class- 12 Part -II
Question no- 12 Chapter no -4 Unimax Class- 12 Part -II

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Question 12 Chapter 4 – Unimax Publication Class 12 Part 2 – 2021

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X Ltd. has an authorized capital of ₹ 30,00,000 dividend into equity shares of ₹ 10 each. The company invited application for 1,20,000 shares. Application for 90,000 shares were received. All calls were made and were duly received except the final call of ₹ 2 per shares on 11,000 shares. 5,000 of the shares on which the final call was not received were forfeited. Show how share capital will appear in the balance sheet of the company as per Schedule 3 part 1 of the companies Act, 2013.

The solution of Question 12 Chapter 4 – Unimax Publication Class 12 Part 2 – 2021 : –

Balance sheet (Extract from)

Equity and LiabilitiesNote Amount ₹
Shareholder’s Fund  
Share capital18,78,000
Share capital (85,000 share @ 10each) 8,50,000
+ share forfeited (5000 x 8) 40,000
– Calls in Arrear (6000 x 2) 12,000
  8,78,000

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Financial Statements of a Company and Its formats

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