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Accountancy · 2023 · 4 marks
CBSE 2023 · Region 1 · Set 1 · Q21
Sandesh Ltd. has an authorised capital of ₹ $\displaystyle 30,00,000$ divided into equity shares of ₹ $\displaystyle 10$ each. The company invited applications for issuing $\displaystyle 70,000$ shares. Applications for $\displaystyle 69,000$ shares were received. All calls were made and duly received except the first and final call of ₹ $\displaystyle 2$ per share on $\displaystyle 3,000$ shares. These shares were forfeited. (a) Present the 'Share Capital' in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013. (b) Also prepare 'Notes to Account s ' for the same.
Marking-scheme solution
Sandesh Ltd.
Balance Sheet (extract) as at ………
Particulars Note Amount (`)
No.
I. EQUITY AND LIABILITIES
1. Shareholders' funds
(a)
Share Capital $\displaystyle 1$ $\displaystyle 6,84,000$
Note to Accounts
Particulars Amount
(`)
Share Capital
1.
Authorised Capital
$\displaystyle 3,00,000$ equity shares of `$\displaystyle 10$ each
$\displaystyle 30,00,000$
Issued Capital
$\displaystyle 70,000$ equity shares of `$\displaystyle 10$ each
$\displaystyle 7,00,000$
Subscribed Capital
Subscribed and fully paid-up
$\displaystyle 6,60,000$
`$\displaystyle 10$
$\displaystyle 66,000$ equity shares of each
$\displaystyle 24,000$
Add: Forfeited shares ($\displaystyle 3,000$ x $\displaystyle 8$)
$\displaystyle 6,84,000$
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CBSE Class 12 Accountancy past-paper question from the 2023board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.