[ISC] Q. 25 Final Accounts of Companies Application Solution of TS Grewal ISC (2026-27) Edition

Solution of Q 25 Final Accounts of Companies-Application TS Grewal Class 12 ISC Board Accountancy Book 2026-27

On 1st April, 2025, Umang Ltd. was registered with a capital of 1,00,00,000 divided into equity shares of 100 each.

During the year ended 31st March, 2026, the company:

Issued 13,750 equity shares to public. Till the date of the Balance Sheet as at 31st March, 2026. 70 had been called.

Issued equity shares of 100 each at a premium of 25% to Bharat Ltd. from whom it purchased
Building at a purchase consideration of ₹ 11,25,000.

Paid underwriting commission of 1,00,000 to underwriters.

Incurred a net loss of 10,00,000.

As per Schedule III of the Companies Act, 2013, you are required to:

(i) Show the Reserves and Surplus in the Notes to Accounts.

(ii) Mention the heading and Sub-heading under which Building is shown in the Balance Sheet of
the company.

(iii) Give the amount of Share Capital in the Balance Sheet of the company prepared as at 31st March, 2026 (Ignore Notes to Accounts).

Solution:-