Akash Ltd. is registered with an authorized Capital of Rs.  8,00,00,000 divided into equity shares of Rs.  10 each. Subscribed and fully paid up share capital of the company was Rs.  4,00,00,000. For providing employment to the local youth and for the development of the rural areas of the Jammu and Kashmir State the company decided to set up a food processing unit in Anantnag district. The Company also decided to open skill development centres in Ladakh, Srinagar and Punch. To meet its new financial requirements the company decided to issue 1,00,000 equity shares of Rs.  10 each and 10,000, 9% debentures of Rs.  100 each. The debentures were redeemable after five years.

The issue of equity shares and debentures was fully subscribed. A shareholder holding 1,000 shares failed to pay the final call of Rs.  2 per share.

Present the share capital in the Balance Sheet of the company as per the provisions of Schedule III of the Companies Act, 2013. Also, identify any two values that the company wishes to propagate.

Marks-3, CBSE:2016-17/Main-DL/Q-10

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