1. The authorized capital of V. Ltd. is Rs. 20,00,000 divided into 2,00,000 equity shares of Rs. 10 each. Out of these 1,00,000 equity shares issued. The amount is payable as under: On Application Rs. 2; On Allotment Rs. 5; Balance on final call – – The public applied for 90,000 shares. All the money was duly received. How will you show ‘Share Capital in the balance sheet of the company. Also prepare to for the same. Account’ “Notes Accounts” Solution: Balance Sheet of V. Ltd. Amount Amount Particulars Note No. Current Year Previous Year Rs. Rs. I(1) Equity and Liability Share holder's Fund (a) Share Capital 1 900000 \ Note No. 1 Share Capital Authorized Capital 2,00,000 equity shares of Rs. 10 each 2000000 Issued Capital 1,00,000 equity shares of Rs. 10 each 1000000 Subscribed Capital 90,000 equity shares of Rs. 10 each 900000 Called Up & Paid Up Capital 90,000 equity shares of Rs. 10 each 900000 Example 2. The authorized capital of T. Ltd. is Rs. 50,00,000 divided into 3,00,000 equity shares of Rs. 10 each and 20,000 6%Preference shares of Rs. 100 each. Out of these 2,00,000 equity shares issued at a premium of 15%. The amount is payable as under: On Application Rs. 2.5; On Allotment Rs. 6.5 (including Premium); Balance on final callThe – – public applied for 2, 50,000 shares. Allotment was made on pro-rata basis. All the money was received except 1000 eq. shares on which call money was not paid by Mr. Manohar. These shares were reissued to Shyam @ Rs. 8 fully paid up. How will you show Capital in the balance sheet of the company? Also prepare ‘Share Account’ “Notes to for the same. Accounts” Solution: Balance Sheet of T. Ltd. Amount Current Amount Previous Particulars Note No. Year Rs. Year Rs. Equity and Liability Share holder's Fund (a) Share Capital 1 2002000 (b) Reserve and Surplus 2 150000 Note No. 1 Share Capital
1. The authorized capital of V. Ltd. is Rs. 20,00,000 divided into 2,00,000 equity shares of Rs. 10 each. Out of these 1,00,000 equity shares issued. The amount is payable as under: On Application – Rs. 2; On Allotment – Rs. 5; Balance on final call The public applied for 90,000 shares. All the money was duly received. How will you show ‘Share Capital Account’ in the balance sheet of the company. Also prepare “Notes to Accounts” for the same. Solution: Balance Sheet of V. Ltd. Particulars Note No. Amount Current Year Rs. Amount Previous Year Rs. I(1) Equity and Liability Share holder's Fund (a) Share Capital 1 900000 \ Note No. 1 Share Capital Authorized Capital 2,00,000 equity shares of Rs. 10 each 2000000 Issued Capital 1,00,000 equity shares of Rs. 10 each 1000000 Subscribed Capital 90,000 equity shares of Rs. 10 each 900000 Called Up & Paid Up Capital 90,000 equity shares of Rs. 10 each 900000 Example 2. The authorized capital of T. Ltd. is Rs. 50,00,000 divided into 3,00,000 equity shares of Rs. 10 each and 20,000 6%Preference shares of Rs. 100 each. Out of these 2,00,000 equity shares issued at a premium of 15%. The amount is payable as under: On Application – Rs. 2.5; On Allotment – Rs. 6.5 (including Premium); Balance on final callThe public applied for 2, 50,000 shares. Allotment was made on pro-rata basis. All the money was received except 1000 eq. shares on which call money was not paid by Mr. Manohar. These shares were reissued to Shyam @ Rs. 8 fully paid up. How will you show ‘Share Capital Account’ in the balance sheet of the company? Also prepare “Notes to Accounts” for the same. Solution: Balance Sheet of T. Ltd. Particulars Note No. Amount Current Year Rs. Amount Previous Year Rs. Equity and Liability Share holder's Fund (a) Share Capital (b) Reserve and Surplus 1 2 2002000 150000 Note No. 1 Share Capital
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