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Star Ltd. is Registered with Capital of ₹ 50,00,000 Divided into 50,000 Equity Shares of ₹ 100 Each, - Accountancy

Ledger

Star Ltd. is registered with capital of ₹ 50,00,000 divided into 50,000 equity shares of ₹ 100 each, The Company issued 25,000 equity shares for subscription. Subscription was received for 23,750 shares and all the due amount was duly received, except the first and final call of ₹ 20 per share on 600 shares. Show the 'Share Capital' in the Balance Sheet of the company.

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Solution

In the books of Star Ltd.
An Extract of Balance Sheet
As at ……….

 

Particulars

Note No.

Amount
(₹)

I. Equity And Liabilities Shareholders’ Funds

 

 
   Share Capital

1

23,63,000

Notes to Accounts:

Note No.

Particulars

 

Amount
(₹)

1. Share Capital

 

 

  Authorised Capital

 

 

  50,000 equity shares of ₹100 each

 

50,00,000

  Issued Capital

 

 

  25,000 shares of ₹100 each

 

25,00,000

  Subscribed Capital

 

 

  23,750 shares of ₹100 each

23,75,000

 

    Less: Calls-in-Arrears (600 × 20)

12,000

23,63,000

   

 

23,63,000

  Is there an error in this question or solution?
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APPEARS IN

TS Grewal Class 12 Accountancy - Double Entry Book Keeping Volume 2
Chapter 1 Accounting for Share Capital
Exercise | Q 4 | Page 114
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