Narmada Ltd. has an authorized capital of 10,00,000 divided into equity shares of ₹10 each. The company issued a prospectus inviting applications for issuing 80,000 equity shares. The company received applications for 75,000 equity shares. All calls were made and were duly received except the first and final call of ₹2 per share on 5,000 shares held by Arti. These shares were forfeited.

(a) Present the share capital in the Balance Sheet of the company as per

Schedule III, Part I of the Companies Act, 2013.

(b) Also prepare Notes to Accounts’ for the same.

Marks-4, CBSE:2022-23/Zone-5/Set-1/Q-21