Post 1 Trial

Leave a Comment / By /
Question 1: Gopal Ltd. was registered with an authorised capital of ₹ 50,00,000 divided into Equity Shares of ₹ 100 each . The company offered for public subscription all the shares . Public applied for 45,000 shares and allotment was made to all the applicants. All the calls were made and were duly received except the final call of ₹ 20 per share on 500 shares.

Prepare the Balance Sheet of the company showing the different types of share capital.

Solution-:

Gopal Ltd.
BALANCE SHEET as on 31st March 2015


Particulars

Note No.


Amount (₹)

(I) EQUITY AND LIABILITIES

1. Shareholders ‘Funds

(a) Share Capital

2. Non-Current Liabilities

3. Current Liabilities



1



44,99,000

Total

  

44,99,000

(ii). ASSETS

1. Non-Current Assets

2. Current Assets

(a) Cash and Cash Equivalents




2




44,99,000

Total

  

44,99,000

Note to Account

Note No.

Particulars

Amount (₹)

1.

Share Capital

Authorised Share Capital

5,00,000 equity shares of Rs 10 each

Issued Share Capital

5,00,000 equity shares of Rs 10 each

Subscribed, Called-up and Paid-up Share Capital

4,50,000 equity shares of Rs 10 each 45,00,000

Less: Calls in Arrears (500 shares × Rs 2) (1,000)



50,00,000

50,00,000


44,99,000

2.

Cash and Cash Equivalents

Cash at Bank


44,99,000

Leave a Comment

Scroll to Top