On 1st April, 2017, Adi Shakti Maa Ltd. was formed with an authorised capital of Rs 10,00,000 divided into 1,00,000 equity share of Rs 10 each. The company issued prospectus inviting applications for 90,000 equity shares. The company received applications for 85,000 equity shares. During the first year Rs 8 per share were called. Ram holding 1,000 shares and Shyam holding 2,000 shares did not pay the first call of Rs 2 per share. Shyam's shares were forfeited after the first call and later on 1,500 of the forfeited shares were re-issued at Rs 6 per share, Rs 8 called up. Show how Share Capital in the Balance Sheet of the company as per Revised Schedule III, Part I of the Companies Act, 2013 is to be presented.

On 1st April, 2017, Adi Shakti Maa Ltd. was formed with an authorised

1.	On 1st April, 2017, Adi Shakti Maa Ltd. was formed with an authorised capital of Rs 10,00,000 divided into 1,00,000 equity share of Rs 10 each. The company issued prospectus inviting applications for 90,000 equity shares. The company received applications for 85,000 equity shares. During the first year Rs 8 per share were called. Ram holding 1,000 shares and Shyam holding 2,000 shares did not pay the first call of Rs 2 per share. Shyam's shares were forfeited after the first call and later on 1,500 of the forfeited shares were re-issued at Rs 6 per share, Rs 8 called up. Show how Share Capital in the Balance Sheet of the company as per Revised Schedule III, Part I of the Companies Act, 2013 is to be presented.
Answer» On 1st April, 2017, Adi Shakti Maa Ltd. was formed with an authorised capital of Rs 10,00,000 divided into 1,00,000 equity share of Rs 10 each. The company issued prospectus inviting applications for 90,000 equity shares. The company received applications for 85,000 equity shares. During the first year Rs 8 per share were called. Ram holding 1,000 shares and Shyam holding 2,000 shares did not pay the first call of Rs 2 per share. Shyam's shares were forfeited after the first call and later on 1,500 of the forfeited shares were re-issued at Rs 6 per share, Rs 8 called up. Show how Share Capital in the Balance Sheet of the company as per Revised Schedule III, Part I of the Companies Act, 2013 is to be presented.

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