RR Ltd. was registered with an authorised capital of Rs. 8,00,000 divided into 80,000 equity shares 

of Rs. 10 each. The company offered to the public for subscription 40,000 equity shares. The amount per share was payable as follows: 

On Application – Rs. 5 

 On Allotment – Rs. 3 

 On first and final call – Balance 

 The issue was fully subscribed and all amounts due were received except the allotment and call money on 2,000 shares allotted to Seema. 

Present 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: 2023-24/Zone-2/Set-1/Q-22