Following is the extract of the Balance Sheet of Vikalp Ltd. as per Schedule-III, Part-I of Companies Act as at $31^{\text {st }}$ March, 2024 along with Notes to accounts:
Vikalp Ltd.
Balance Sheet as at $31^{\text {st }}$ March, 2024
Particulars | Note No. | $31-03-2024$ (₹) | $31-03-2023$ (₹) |
I. Equity and Liabilities | |||
(1) Shareholders Funds | |||
(a) Share capital | 1 | 59,60,000 | 50,00,000 |
‘Notes to accounts’ as at $31^{\text {st }}$ March, 2023:
Note | Particulars | $31-3-2023$ (₹) |
No. | ||
1. | Share Capital : | |
Authorised capital | ||
9,00,000 equity shares of ₹ 10 each | 90,00,000 | |
Issued capital : | ||
5,00,000 equity shares of ₹ 10 each | 50,00,000 | |
Subscribed capital : | ||
Subscribed and fully paid up | ||
5,00,000 equity shares of ₹ 10 each | 50,00,000 | |
Subscribed but not fully paid up | Nil | |
50,00,000 |
‘Notes to accounts’ as at $31^{\text {st }}$ March, 2024:
Note | Particulars | $31-3-2024$ (₹) |
No. | ||
1. | Share Capital : | |
Authorised capital | ||
9,00,000 equity shares of ₹ 10 each | 90,00,000 | |
Issued capital : | ||
6,00,000 equity shares of ₹ 10 each | 60,00,000 | |
Subscribed capital : | ||
Subscribed and fully paid up | ||
5,80,000 equity shares of ₹ 10 each | 58,00,000 | |
Subscribed but not fully paid up | ||
20,000 equity shares of ₹ 10 each, | ||
fully called up | 2,00,000 | |
Less : calls in arrears | ||
20,000 equity shares @ ₹ 2 per share | 40,000 | |
59,60,000 |
Analysis of Vikalp Limited's Share Capital
Given Information:
Issued Capital (31-03-2024) - Issued Capital (31-03-2023) = New issued capital for the year
60,00,000 - 50,00,000 = ₹10,00,000
Answer: (A) ₹10,00,000
This is given directly as the number of shares in arrears: 20,000 shares.
Answer: (D) 20,000
Since the shares are fully called up, the entire face value of the forfeited shares (20,000 shares @ ₹10) will be debited.
20,000 * ₹10 = ₹2,00,000
Answer: (C) ₹2,00,000
The Share Forfeiture Account is credited with the amount received on the forfeited shares. Since ₹2 per share was not received, the amount received per share is ₹10 - ₹2 = ₹8.
20,000 shares * ₹8/share = ₹1,60,000
Answer: (A) ₹1,60,000
The entire balance of shares forfeited account will be transferred to capital reserve account.
₹1,60,000
Answer: (B) ₹1,60,000
The maximum permissible discount on reissue = ₹2 per share (the amount not received initially). Therefore the company will be reissued at ₹8. As a result same answer applies.
₹1,60,000
Answer: (B) ₹1,60,000
‘बिस्कोहर की माटी’ पाठ के आधार पर बिसनाथ के गाँव की तीन विशेषताएँ लिखते हुए उन्हें चुनने का कारण भी बताइए।