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Accountancy · 2024 · 4 marks
CBSE 2024 · Region 2 · Set 3 · Q22
RR Ltd. was registered with an authorised capital of ₹ $\displaystyle 8,00,000$ divided into $\displaystyle 80,000$ equity shares of ₹ $\displaystyle 10$ each. The company offered to the public for subscription $\displaystyle 40,000$ equity shares. The amount per share was payable as follows : On Application ₹ $\displaystyle 5$ On Allotment ₹ $\displaystyle 3$ On first and final call Balance The issue was fully subscribed and all amounts due were received except the allotment and call money on $\displaystyle 2,000$ shares allotted to Seema. 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.
Marking-scheme solution
RR Ltd.
Balance Sheet as at _____ (An Extract)
Particulars Note Amount ( )
no.
Equity and Liabilities
1. Shareholders’ Funds
(a)
Share Capital $\displaystyle 1$ $\displaystyle 3,90,000$
Notes to Accounts:-
Particulars Amount ( )
1. Share Capital:
Authorised Capital
$\displaystyle 80,000$ Equity shares of ₹$\displaystyle 10$ each $\displaystyle 8,00,000$
Issued Capital
$\displaystyle 40,000$ Equity shares of ₹$\displaystyle 10$ each $\displaystyle 4,00,000$
Subscribed Capital
• Subscribed and fully paid up
$\displaystyle 38,000$ Equity shares of $\displaystyle 10$ each $\displaystyle 3,80,000$
•
Subscribed but not fully paid up
$\displaystyle 2,000$ Equity shares of $\displaystyle 10$ each, fully called up $\displaystyle 20,000$
Less: Calls in arrears ($\displaystyle 2000$ x $\displaystyle 5$) $\displaystyle (10,000)$ $\displaystyle 10,000$
$\displaystyle 3,90,000$
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CBSE Class 12 Accountancy past-paper question from the 2024board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.