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

Sunstar Ltd. has an authorised capital of ₹ 20,00,000 divided into equity shares of ₹ 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 ₹ 3 per share on 2,000 shares. These shares were forfeited.

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.

[Ans.: Share Capital (Subscribed and Fully Paid-up) – ₹ 5,74,000.]