The solution to Question number 2 of the Accounting for Share Capital chapter of TS Grewal Book 2025-26 Edition
Shri Ganga Ltd. was registered with an authorised capital of ₹ 7,00,000 divided into equity shares of ₹ 10 each. It offered to the public for subscription 50,000 equity shares. The amount payable as follows:
| On Application | ₹ 4 per share |
| On Allotment | ₹ 4 per share |
| On First and Final call | Balance |
The issue was fully subscribed. All the amounts were duly received except the first and final call money on 4,000 equity shares.
Show 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.
[Ans.: Share Capital – ₹ 4,92,000.]
Solution:-
