CBSE XII COMPILED BY SUDHIR SINHA

ACCOUNTANCY ISSUE OF SHARE CAPITAL

REVISION SHEET
Disclosure of Share Capital in the Balance Sheet

1 Atishyokti Ltd. company was registered with an authorized capital of ₹ 20,00,000

divided into 2,00,000 Equity Shares of ₹ 10 each, payable ₹ 3 on application, ₹ 6
on allotment (including ₹ 1 premium) and balance on call. The company offered
80,000 shares for public subscription. All the money has been duly called and
received except allotment and call money on 5,000 shares held by Manish and
call money on 4,000 shares held by Alok. Manish’s shares were forfeited and out
of these 3,000 shares were re-issued ₹ 9 per share as fully paid up. Show share
capital in the books of the company. Also prepare notes to accounts.
(C.B.S.E, 2023-24 SAMPLE PAPER)

2 Altaur Ltd. was registered with an authorised Capital of ₹ 4,00,00,000 divided in

25,00,000 Equity Shares of ₹ 10 each and 1,50,000, 9% Preference Shares of
₹100 each. The company issued 8,00,000 Equity Shares for public subscription
at 20% premium, payable ₹ 3 on application; ₹ 7 on allotment (including
premium) and balance on call. Public had applied for 10,00,000 shares. Excess
Applications were sent letters of regret.
All the dues on allotment received except on 15,000 shares held by Sanju.
Another shareholder Rocky paid his call dues along with allotment on his holding
of 25,000 shares. You are required to prepare the Balance Sheet of the company
as per Schedule III of Companies Act, 2013, showing Share Capital balance and
also prepare Notes to Accounts. (C.B.S.E, 2022-23 SAMPLE PAPER)

3 MM Ltd. is registered with an authorised share capital of ₹10,00,00,000 was

divided into 1,00,00,000 equity shares of ₹10 each. The company invited
applications for issuing 10,00,000 equity shares. The amount per share was
payable as follows:
On Application - ₹3 per share
On Allotment - ₹4 per share
On First and Final Call - ₹3 per share
The issue was fully subscribed. All calls were made and were duly received except
the first and final call on 1000 shares.
Present the share capital in the Balance Sheet of the company as per the
provisions of Schedule III Part I of the Companies Act, 2013 and also prepare
Notes to Accounts. (C.B.S.E, COMPTT 2022-23)

4 Sandesh Ltd. has an authorised capital of ₹30,00,000 divided into equity shares
of ₹10 each. The company invited applications for issuing 70,000 shares.
Applications for 69,000 shares were received. All calls were made and duly
received except the first and final call of ₹2 per share on 3,000 shares. These
shares were forfeited.
You are required to prepare the Balance Sheet of the company as per Schedule
III of Companies Act, 2013, showing Share Capital balance and also prepare
Notes to Accounts. (C.B.S.E, MAINS 2022-23)

5 On 1st April, 2019, Chetan Ltd. was formed with an authorised capital of divided
into 22,500 equity shares of ₹100 each. The company invited applications for
18,750 equity shares. The amount was payable as follows:
On application- ₹30 per share
On allotment-₹40 per share
On first and final call- ₹30 per share
CBSE XII COMPILED BY SUDHIR SINHA
ACCOUNTANCY ISSUE OF SHARE CAPITAL

The issue was fully subscribed and the company alloted shares to all applicants.
All money was received except the first and final call on 3,500 shares.
(i) Present the share capital in the Balance Sheet of the company as per Schedule
III Part I of the Companies Act, 2013.
(ii) Also prepare 'Notes to Accounts' for the same. (C.B.S.E, COMPTT 2021-22)

6 Alpha India Ltd. was registered with an authorised capital of ₹10,00,000 divided
into 1,00,000 equity shares of ₹10 each. The company offered to the public for
subscription 80,000 equity shares payable per share as: ₹3 on application, ₹2 on
allotment, ₹3 on first call and the balance on second and final call. The issue was
fully subscribed and all amounts due were received except the first and final call
money on 2,000 shares allotted to Chavi. Her 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’.
(C.B.S.E, COMPTT 2020-21)

7 Janta Ltd. had an authorized capital of 2,00,000 equity shares of ₹10 each. The
company offered to the public for subscription 1,00,000 shares. Applications
were received for 97,000 shares. The amount was payable as follows on
application was ₹2 per share, ₹4 was payable each on allotment and first and
final call. A shareholder holding 600 shares failed to pay the allotment money.
His shares were forfeited. The company did not make the first and final call.
Present the share capital in the Balance Sheet of the company as per Schedule
III of the Companies Act, 2013. Also prepare Notes to accounts.
(C.B.S.E, COMPTT 2018-19)

8 NK Ltd., a truck manufacturing company, is registered with an authorised

capital of ₹1,00,00,000 divided into equity shares of ₹100 each. The subscribed
and paid up capital of the company is ₹50,00,000. To meet the capital
expenditure requirements of the project, the company offered 20,000 shares to
the public for subscription. The shares were fully subscribed and paid.
Present the share capital in the Balance Sheet of the company as per the
provisions of Schedule III of the Companies Act, 2013.
(C.B.S.E, MAINS 2018-19)

9 Ganesh Ltd. is registered with an authorised capital of ₹10,00,00,000 divided

into equity shares of ₹10 each. Subscribed and fully paid up capital of the
company was ₹6,00,00,000. To meet its new financial requirements, the
company decided to issue 1,00,000 equity shares of ₹10 each and 1,00,000, 9%
debentures of ₹100 each. The debentures were redeemable after five years at par.
The issue of shares and debentures was fully subscribed. A shareholder holding
2,000 shares failed to pay the final call of ₹2 per share.
(i) Show the share capital in the Balance Sheet of the company as per the
provisions of Schedule III of the Companies Act, 2013.
(ii) Also identify any two values that the company wishes to propagate.
(C.B.S.E, MAINS 2017-18)

10 Xansa Ltd. offered 22,000 equity shares of ₹100 each to the public at a premium
of ₹20 per share. The amount per share was payable as ₹30 on application; ₹50
(including premium) on allotment; and the balance on first and final call. 20,000
shares were subscribed by the public. All calls were made. A shareholder holding
1,000 shares failed to pay the first and final call money. His shares were forfeited.
Show ‘Share capital’ in the Balance Sheet of Xansa Ltd. Also, prepare ‘Notes to
Accounts (C.B.S.E., COMPTT 2017-18)
CBSE XII COMPILED BY SUDHIR SINHA
ACCOUNTANCY ISSUE OF SHARE CAPITAL

11 Samprag Ltd. has an authorized capital of ₹20,00,000 divided into equity shares
of ₹10 each. The company invited applications for issuing 60,000 shares.
Applications for 58,000 shares were received. All calls were made and were duly
received except the final call of ₹3 per shares on 2,000 shares. These shares were
forfeited.
(a) Present the share capital in the Balance Sheet of the company as per
Schedule III of the Companies Act, 2013.
(b) Also prepare ‘Notes to Accounts’ for the same. (C.B.S.E, Comptt 2016-17)

12 A Ltd. Was registered with an uthorized Capital of ₹10,00,000 divided into

equity shares of ₹10 each. The company invited applications for the issue of
50,000 shares. Applications for 48,000 shares were received. All the calls were
made and were duly received except the final call of ₹2 per share on 1,000 shares.
All these shares were forfeited and later on re-issued at ₹9,000 fully paid.
(i) Show how ‘Share Capital’ will appear in the Balance Sheet of A Ltd. As per
Schedule-III, Part I of the Companies Act, 2013.
(ii) Also show ‘Notes to Accounts’ for the same.
(C.B.S.E., Comptt 2014-15 modified)

13 Janta Ltd. had an authorised capital of ₹2,00,000 divided into equity shares of
₹10 each. The company offered for subscription ₹1,00,000 shares. The issue was
fully subscribed. The amount payable on application was ₹2 per share. ₹4 per
share were payable each on allotment and first and final call. A share holder
holding 100 shares failed to pay the allotment money. His shares were forfeited.
The company did not make the final call. Show how the ‘Share Capital’ will be
shown in the company’s balance sheet. Also prepare Notes to Accounts for the
same. (C.B.S.E., Sample Paper, 2012-13 & 2013-14)