Question no 3 Chapter 1 - Unimax Class 12 Part 2

Question No 3 Chapter 1 – Unimax Class 12 Part 2 – 2021

Table of Contents

The solution of Question 3 Chapter 1 of +2 Part-2: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Ravi Ltd. was formed with an authorized capital of ₹ 30,00,000 divided into 30,000 shares of ₹ 100 each. The company invited applications for issuing 20,000 equity shares. The amount was payables as follows:

On Application	: ₹ 40
On Allotment	: ₹ 40
a. share capital	: ₹ 20

The issue was fully subscribed and the company allotted share to all applicants. All money was received except the final call on 2,000 shares. Show the ‘ Share Capital in the Balance Sheet of the company as per schedule 3 Part 1 of the companies Act,2013 and also show Notes to Accounts.

The solution of Question 3 Chapter 1 of +2 Part-2: –

Balance Sheet of XYZ LTD.
As At ………

Particulars	Note No.	Amount Current year	Amount previous year
Equity and Liabilities
1 Share holders funds
a. share capital	1	19,60,000

Note to Amounts

Particulars		₹
1 share capital :
Authorized capital
3,00,000 equity share of ₹ 10 each		30,00,000
Issued capital:
20,000 Equity shares ₹ 100 each		20,00,000
Subscribed capital
Subscribed and fully paid up capital
18,000 shares of @ 100 each	18,00,000
Subscribed but not fully paid 2,000 share of ₹ 100 each	2,00,000
Less Call in Arrears	-40,000
(2,000*20)	1,60,000	19,60,000