Question 1 Chapter 8 of +2-A - T.S. Grewal 12 Class

Question 1 Chapter 8 of +2-A

Table of Contents

The solution of Question 1 Chapter 8 of +2-A: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Disclosure of share capital in the company’s Balance sheet

1. Gopal Ltd. was registered with an authorised capital of Rs 50,00,000 divided into Equity shares of Rs 100 each. The company offered for public subscription all shares. The public applied for 45,000 shares and an allotment was made to all the applicants. All the calls were made to all the calls were made and were made and were duly received except the final call of Rs 20 per share on 500 shares.
Prepare the balance sheet of the different types of share capital.

The solution of Question 1 Chapter 8 of +2-A: –

In the Books of Gopal Ltd.
Balance Sheet
Particulars	Note	Figures as at the end of the Previous Reporting Period
(1)	(2)	(3)
I. Equity and Liabilities
1. Shareholders’ Funds
(a) Share Capital	1	44,90,000

Note No. 1
Particulars	Details	Amount
Share capital
Authorized capital
50,000 Equity share of Rs 100 each		50,00,000
Issued capital
50,000 equity shares of Rs 100 each
Subscribed capital
Subscribed and fully paid-up
45,000 equity shares of Rs 100 each		44,50,000
Subscribed but not fully paid-up
500 equity shares of Rs 100 each	50,000
Less: calls-in-arrears[(500*20)]	10,000	40,000
		44,90,000