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7.28 Double Entry Book Keeping (Section A)—ISC XII

BALANCE SHEET OF GEE KAY LTD. as at ...
Particulars Note No. `
I. EQUITY AND LIABILITIES
Shareholders’ Funds
Share Capital 1 9,96,000
Reserves and Surplus 2 2,01,000
11,97,000

Notes to Accounts
1. Share Capital `
Authorised Capital
... Shares of ` 10 each ...
Issued Capital
1,00,000 Shares of ` 10 each 10,00,000
Subscribed Capital
Subscribed and fully paid-up
99,000 Shares of ` 10 each 9,90,000
Add: Forfeited Shares A/c 6,000
9,96,000
2. Reserves and Surplus
Capital Reserve 5,000
Securities Premium Reserve (WN 8) 1,96,000
2,01,000

Working Notes:
1. (i) Shares applied by Anil and Shares Application money paid and adjusted:
Shares allotted = 1,000
1,000
∴ Shares applied = ¥1,50,000 = 1,500
1,00,000 `
Application money paid (1,500 × ` 4) 6,000
Less: Adjusted against share application (1,000 × ` 4) 4,000
Balance to be adjusted against allotment money 2,000
Amount due from Anil on allotment (1,000 × ` 5) 5,000
Less: Balance to be adjusted against allotment money 2,000
Balance not received on allotment 3,000
Comprising: Share Capital 1,000
Securities Premium Reserve 2,000
(ii) Shares applied by Amit and application money paid and adjusted:
Shares allotted = 2,000
2,000
∴ Shares applied = ¥1,50,000 = 3,000
1,00,000 `
Application money paid (3,000 × ` 4) 12,000
Less: Adjusted against share application (2,000 × ` 4) 8,000
Balance to be adjusted against allotment 4,000
Amount due from Amit on allotment (2,000 × ` 5) 10,000
Less: Balance to adjusted against allotment 4,000
Amount not received on allotment 6,000
Comprising: Share Capital 2,000
Securities Premium Reserve 4,000
6,000