3 :- Sunstar Ltd. Has an authorised capital of Rs 20,00,000 divided into equity shares of Rs 10 each. The company invited applications for issuing of 60,000 shares. Applications were received for 58,000 shares.
All calls were made and were duly received except the final call of Rs 3 per share on 2,000 shares. These shares are forfeited.
Present the ‘Share Capital’ in the Balance Sheet of the Company as per Schedule III, Part 1 of the Companies Act, 2013. Also prepare ‘Notes to Accounts’ for the same.
Solution :-
