Question

Shri Ganga Ltd. was registered with an authorised capital of ₹ 7,00,000 divided into equity shares of ₹ 10 each. Show Share Capital in the Balance Sheet as per Schedule III, Part I of the Companies Act, 2013.

Hint:

Present Share Capital under Schedule III requirements, showing detailed disclosures of issued, subscribed, and called-up amounts.

Answer 1

Balance Sheet of Shri Ganga Ltd. as of March 31, 2023: \[ \begin{array}{|l|r|} \hline Particulars & Amount (₹) \\ \hline Equity and Liabilities: & \\ \quad \text{Share Capital (Note 1)} & 5,60,000 \\ \quad \text{Calls in Arrears} & 40,000 \\ \hline Total & ₹ 6,00,000 \\ \hline \end{array} \] Notes to Accounts: \[ \begin{array}{|l|r|} \hline Particulars & Amount (₹) \\ \hline \text{Authorised Capital} & ₹ 7,00,000 \\ \text{Issued Capital (50,000 shares)} & ₹ 5,00,000 \\ \text{Subscribed and Paid-Up Capital (46,000 shares)} & ₹ 4,60,000 \\ \hline \end{array} \]