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Accountancy · 2024 · 4 marks
CBSE 2024 · Region 1 · Set 1 · Q21
Shivalik Limited was registered with an authorized capital of ₹ $\displaystyle 10,00,000$ divided into equity shares of ₹ $\displaystyle 10$ each. It offered $\displaystyle 50,000$ equity shares to the public. The amount was payable as follows : On Application ₹ $\displaystyle 2$ per share On Allotment ₹ $\displaystyle 6$ per share On First and Final call Balance The issue was fully subscribed. All the amounts were duly received except the allotment and first and final call money on $\displaystyle 4,000$ equity shares. These equity shares were forfeited. Present the Share Capital in the Balance Sheet of the company as per
Marking-scheme solution
Shivalik Ltd.
BALANCE SHEET (extract)
As at ……
Particulars Note Amount
No.
(₹)
I Equity and Liabilities
1. Shareholders’ Funds
(a)
Share Capital $\displaystyle 1$ $\displaystyle 4,68,000$
Notes to Accounts:
Particulars Amount
₹
1. Share Capital
Authorised Capital
$\displaystyle 1,00,000$ equity shares of ₹$\displaystyle 10$ each $\displaystyle 10,00,000$
Issued Capital
$\displaystyle 50,000$ equity shares of ₹$\displaystyle 10$ each $\displaystyle 5,00,000$
Subscribed Capital
Subscribed & fully paid-up
$\displaystyle 46,000$ equity shares of ₹$\displaystyle 10$ each $\displaystyle 4,60,000$
Add: Share Forfeiture A/c $\displaystyle 8,000$
$\displaystyle 4,68,000$
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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.