Shivalik Limited was registered with an authorized capital of ₹ 10,00,000 divided into equity shares of ₹ 10 each. It offered 50,000 equity shares to…

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 Schedule III, Part I of the Companies Act, 2013. Also prepare 'Notes to Accounts' for the same.