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प्रश्न
'Telecom Limited' is registered with an authorized capital of Rs 8,00,00,000 divided into 80,00,000 equity shares of Rs 10 each. The company issued 1,00,000 shares at a premium of Rs 2 per share. The amount was payable as follows :
On application - Rs 3 per share
On allotment - Rs 5 per share (including premium)
On first and final call - The balance
All calls were made and were duly received except the first and final call on 1,000 shares held by Asha. Present the 'Share Capital' in the Balance Sheet of the company as per Schedule VI Part I of the Companies Act, 1956
उत्तर
| Telecom Limited Balance Sheet |
||
| Particulars | Note No |
Rs |
|
I. Equity and Liabilities 1. Shareholder’s Funds a. Share Capital b. Reserve and Surplus |
9,96,000 2,00,000 |
|
| Total | 11,96,000 | |
|
II. Assets 1. Current Assets a) Cash and Equivalents |
11,96,000 |
|
| Total | 11,96,000 | |
Note to Accounts:
| Note No | Particulars | Rs |
|
1
|
Share Capital Authorised Share Capital 80,00,000 shares of Cash and Cash Equivalents 10 Issued Share Capital 1,00,000 shares of 10 Subscribed Called-up and Paid up Share Capital 1,00,000 Shares of 100 each 10,00,000 Less: Calls-in-arrears (1,000 shares of 4) 4,000 |
8,00,00,000
10,00,000
9,96,000 |
|
2
|
Reserve and Surplus Securities Premium |
2,00,000 |
|
3
|
Cash and Cash Equivalents Cash Equivalents |
11,96,000 |
संबंधित प्रश्न
List the categories of individuals other than the minors who cannot become the members of a partnership firm
The Share Capital which a company is authorised to issue by its Memorandum of Association is __________.
There must be provision in ___________ for forfeiture of shares.
Give one word/term/phrase for the following statement.
The form of business organisation where huge amount of capital can be raised.
Give one word/term/phrase for the following statement.
The capital which is subscribed by the public.
Give one word/term/phrase for the following statement.
The part of subscribed capital which is not called-up by the company.
State true or false with reason.
Face value of shares and market value of shares is always same.
State whether you agree or disagree with following statement.
Calls in Advance account is shown on the Asset side of the Balance sheet.
State whether you agree or disagree with following statement:
The Authorised capital is also known as Nominal Capital.
__________ form of business organisation in which Capital is raised through the issue of shares.
10000 equity shares of ₹ 10 each issued at 10% premium. Calculate the total amount of share premium.
80000 Equity shares of ₹ 10 each issued and fully subscribed and called up at 20% premium. Calculate the amount of Equity share Capital.
Vijay Ltd. was registered with an authorised capital of ₹ 15,00,000 divided into 1,50,000 equity shares of ₹ 10 each.
Company issued 1,00,000 equity shares of ₹ 10 each at a premium of ₹ 2 per share.
Company received applications for 80,000 equity shares and were allotted the shares.
Company received application money ₹ 3 per share, allotment money ₹ 4 per share (Including premium), and first call money ₹ 3 per share.
The Directors have not made final call of ₹ 2 per share. All money were received except one shareholder holding 500 shares did not pay first call.
Show Authorised Capital, Issued Capital, Subscribed Capital, Called-up Capital, Paid-up Capital, Calls in Arrears, and Share Premium amount in company balance sheet.
State whether you agree or disagree with following statement
Joint Stock company can raise huge amount of capital.
Net Assets minus Capital Reserve is ______.
1000 shares issued @10% Premium considering face value for ₹ 10/- Calculate Premium.
Reliance company Limited invited applications for 50,000 Equity Shares of ₹ 100 each at par, payable as follows:
| On Application | ₹ 30 |
| On Allotment | ₹ 40 |
| On First & Final Call | ₹ 30 |
The public applied for 35,000 shares and all these were allotted. All money due were collected with an exception of first & final call on 4000 shares, these were forfeited. All forfeited shares were re-issued by the Directors at ₹ 80 per share.
Pass Journal Entries in the Books of Reliance Company Limited.
Ganesh draws a bill for ₹ 40,000 on 15th January, 2020 for 2 months. He discounted the bill with Bank of India @ 15% p.a. on the same day. Calculate the amount of discount.
Vani Limited invited applications for issuing 1,00,000 equity shares of ₹ 10 each at a premium of 10%. The amounts were payable as under: On Application and Allotment - ₹ 4 per share (including premium ₹ 1)
On first call -₹ 4 per share
On second and final call - ₹ 3 per share
Applications for1,50,000 shares were received and pro-rata allotment was made to all the applicants. Excess application money was adjusted towards sums due on calls. Parth, a shareholder who had applied for 600 shares did not pay the first call. His shares were forfeited. The second and final call was not yet made. Half of the forfeited shares were reissued at ₹ 8 per share fully paid-up.
Journalise the above transactions in the books of Vani Limited by opening calls in arrears and calls in advance account wherever necessary.
