Sunstar Ltd. has an authorised capital of ₹20,00,000 divided into equity shares of ₹10 each. The company invited applications for issuing 60,000 shares. Applications were received for 58,000 shares.

All calls were made and were duly received except the final call of ₹3 per share on 2,000 shares. These shares were forfeited.

Prepare 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.

Marks-4, CBSE:2022-23/Zone-4/Set-1/Q-22

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