3. Mohan Ltd. issued 50,000 shares of 20 each. It received applications
for 45,000 shares and these were accepted. It did not make final call of
5. Ram holding 1,000 shares did not pay share first call of 5 and his
shares were forfeited. Y failed to pay share first call on 2,000 shares.
Show how the share capital will appear in the Balance Sheet of the
company as on 31st March, 2020?
[Ans. Share Capital 6,60,000; Notes to Accounts : Subscribed but
not fully paid * 6,60,000 of which 10,000 (Calls-in-Arrears);
and Add : Share Forfeiture A/c 10,000]
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