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COMPANY_BALANCE_SHEET_QUESTIONS-2022

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6 views2 pages

COMPANY_BALANCE_SHEET_QUESTIONS-2022

Uploaded by

Yashshvi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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COMPANY BALANCE SHEET – PRACTICE QUESTIONS.

Q1. Samaira Ltd had an authorized share capital of Rs 1,00,00,000 divided into 10,00,000 equity shares of Rs 10 each. It issued
4,00,000 shares of Rs 10 each. All the shares were subscribed and allotted. All calls were made and received except final call on
2,000 shares of Rs 3 each.
Prepare Balance Sheet of the company as per Schedule III of Companies Act 2013. Also prepare
‘Notes to Accounts’.

Q2. Laxmi Cotton Mills Ltd. issued 2,00,000 equity shares of Rs 10 each at a premium of Rs 5 to be payable as follows:
On app Rs 3, on allotment Rs 8(including premium), on first and final call: Balance
Applications for 1,96,000 shares were received. The directors allotted the shares and first and final call is not made.
Srinet a holder of 1,200 shares did not pay allotment.
Prepare Balance Sheet of the company as per Schedule III of Companies Act 2013. Also prepare
‘Notes to Accounts’.

Q3. Shri Balaji Telecast Ltd. a public company invited applications for 50,000 , 10% Preference shares of Rs 100 each issued at
par. The company received applications for 60,000 shares and refunded excess applications. The amount was payable as follows:
On application : Rs 25, on allotment Rs 60, on first and final call Rs 15
The company called full amount and received it, except final call on 400 shares held by mr. Sharma.
These shares were forfeited.

Prepare Balance Sheet of the company as per Schedule III of Companies Act 2013. Also prepare
‘Notes to Accounts’.

Q4. PC Cosmetics Ltd. had a registered capital of Rs 60,00,000 divided into equity shares of Rs 10 each.
It issued 4,00,000 shares of Rs 10 each at a premium of 20%.
The shares were fully subscribed and allotted. The company has received called up amount except on first call of Rs 2 on 1,500
shares. Final call of Rs 3 per share is not yet made.
These 1,500 shares were forfeited.
Show how ‘Share Capital’ will appear in Balance sheet of the company as per Schedule III of Companies Act 2013. Also prepare
‘Notes to Accounts’.

Q5. Zenith Exports Ltd. issued 90,000 equity shares of Rs 50 each at par, to be payable as follows:
On app Rs 20, on allotment Rs 15, on first call Rs 10 and on final call Rs 5
The company had called up till first call and received it except on 500 shares held by Dinesh, who did not pay first call.
Suresh holding 200 shares did not pay allotment and first call. Suresh shares were forfeited.

Show how ‘Share Capital’ will appear in Balance sheet of the company as per Schedule III of Companies Act 2013. Also prepare
‘Notes to Accounts’.

Q6. Zafar Impex Ltd. a leading firm dealing in leather goods items had a paid up share capital of Rs 1,50,00,000 divided into
equity shares of Rs 100 each.
It further issued 1,00,000 equity shares of Rs 100 each at par. All the shares were subscribed. Directors allotted these shares to be
payable as follows:
On app Rs 30, on allotment Rs 30, on first and final call: Balance
The company had called full amount and received it except final call on 1,000 shares. These shares were forfeited and 600 of them
were reissued for Rs 55,000.

Show how ‘Share Capital’ will appear in Balance sheet of the company as per Schedule III of Companies Act 2013. Also prepare
‘Notes to Accounts’.

Q7. Satnam Logistics Ltd. had an authorized share capital of Rs 50,00,000 divided into equity shares of Rs 50 each. It issued
50,000 equity shares. The company had called Rs 40 per share. All the shareholders paid the called up amount except 1,000 shares
held by Roma, who did not pay Rs 15 on first call. Her shares were forfeited and 400 shares were re-issued as Rs 40 paid up for
Rs 45 per share.

Show how ‘Share Capital’ will appear in Balance sheet of the company as per Schedule III of Companies Act 2013. Also prepare
‘Notes to Accounts’.

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