CBSE 2023 · Region 3 · Set 3 · Q22

On 1st April, $\displaystyle 2021$, Vishwas Ltd. was formed with an authorised capital of ₹ $\displaystyle 10,00,000$ divided into $\displaystyle 1,00,000$ equity shares of ₹ $\displaystyle 10$ each. The company issued a prospectus inviting applications for $\displaystyle 90,000$ equity shares. The company received applications for $\displaystyle 85,000$ equity shares. Shyam, holding $\displaystyle 3,000$ shares, did not pay the first and final call of ₹ $\displaystyle 2$ per share. His shares were forfeited. Present the 'Share Capital' in the Balance Sheet of the Company as per Schedule III, Part I of the Companies Act, 2013. Also prepare 'Notes to Accounts' for the same.