Question no 5 Chapter 1 - Unimax Class 12 Part 2

Question No 5 Chapter 1 – Unimax Class 12 Part 2 – 2021

Table of Contents

The solution of Question 5 Chapter 1 of +2 Part-2: –

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

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

On 1st April, 2022, Kavita Ltd. was formed with an authorized capital of ₹ 50,00,000 divided into 1,00,000 equity shares of ₹ 50 each. The company issued prospectus inviting application for 80,000 shares. The issued was payable as under:

On Application	: ₹ 15
On Allotment	: ₹ 20
On Call	: Balance amount

The issued was fully subscribed and the company allotted shares to all the applications. The company did not make the call during the year.
Show the following:
(a) Share capital in the Balance sheet of the company as per schedule 3, part 1 of the companies Act, 2013.
(b) Also prepare ‘Notes to Amount for the same’.

The solution of Question 5 Chapter 1 of +2 Part-2: –

Balance Sheet of Kavita
As At ………

Particulars	Note No.	Amount Current year	Amount previous year
Equity and Liabilities
1 Share holders funds
a. share capital	1	28,00,000

Note to Accounts

Particulars	₹
1 share capital :
Authorized capital
1,00,000 equity shares of ₹ 50 each	50,00,000
Issued capital:
80,000 Equity shares ₹ 50 each	40,00,000
Subscribed capital
Subscribed and fully paid up capital
80,000 shares of @ 35 each	28,00,000