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-:
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Gopal Ltd. |
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Note No. |
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(I) EQUITY AND LIABILITIES 1. Shareholders ‘Funds (a) Share Capital 2. Non-Current Liabilities 3. Current Liabilities |
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Total |
44,99,000 |
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(ii). ASSETS 1. Non-Current Assets 2. Current Assets (a) Cash and Cash Equivalents |
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Total |
44,99,000 |
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Note to Account
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Note No. |
Particulars |
Amount (₹) |
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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) |
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2. |
Cash and Cash Equivalents Cash at Bank |
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