Saraswati Ltd. has an authorised capital of ₹ $\displaystyle 10,00,000$ divided into equity shares of ₹ $\displaystyle 10$ each. Subscribed and fully paid up share capital of the company was ₹ $\displaystyle 4,00$,000. To meet its new financial requirements, the company issued $\displaystyle 20,000$ equity shares of ₹ $\displaystyle 10$ each which were payable as follows $\displaystyle 1$ ₹ $\displaystyle 3$ on application, ₹ $\displaystyle 3$ on allotment, ₹ $\displaystyle 2$ on first call and ₹ $\displaystyle 2$ on second and final call. The issue was fully subscribed. The allotment money was payable on 1st May $\displaystyle 2021$, first call money on 1st August $\displaystyle 2021$ and final call on 1st October 2021. X whom $\displaystyle 1000$ shares were allotted, did not pay the allotment and call money, Y an allotee of $\displaystyle 600$ shares, did not pay the two calls , and Z whom $\displaystyle 400$ shares were allotted, did not pay the final call. 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.

Balance Sheet of Saraswati Ltd (An Extract) as at………………………… Particulars Note No. ₹ I. EQUITY & LIABILITIES Shareholders’ Fund Share Capital………………………….1 $\displaystyle 1$ $\displaystyle 5,89,800$ Notes to Accounts Particulars ₹ 1.Share Capital Authorized Capital $\displaystyle 1,00,000$ Equity Shares of ₹$\displaystyle 10$ each……………….1 $\displaystyle 10,00,000$ Issued Capital $\displaystyle 60,000$ Equity Shares of ₹$\displaystyle 10$ each………………..1 $\displaystyle 6,00,000$ Subscribed Capital Subscribed and fully paid up $\displaystyle 5,80,000$ $\displaystyle 58,000$ Equity Shares of ₹$\displaystyle 10$ each………………½ Subscribed but not fully paid up $\displaystyle 2000$ equity shares of ₹$\displaystyle 10$ each ₹ $\displaystyle 20,000$ $\displaystyle 9,800$ -Calls in Arrears (₹$\displaystyle 10,200$) ½ ________ (₹$\displaystyle 7,000$+ ₹$\displaystyle 2400$+ ₹$\displaystyle 800$) $\displaystyle 5,89,800$