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Question
Authorized capital of Suhani Ltd . is ₹ 45,00,000 divided into 30,000 shares of ₹ 150 each . Out of these company issued 15,000 shares of ₹ 150 each at a premium of ₹ 10 per share . the amount was payable as follows:
₹ 50 per share on application , ₹ 40 per share on allotment (including premium ), ₹ 30 per share on firs t call and balance on final call . Public applied for 14,000 shares. All the money was duly received .
Prepare an extract of Balance Sheet of Suhani Ltd . as per Schedule III , Part I of the companies Act, 2013 disclosing the above information . Also prepare 'Notes to Accounts ' for the same.
Solution
Suhani Ltd.
Balance Sheet
|
Particulars |
Note No. |
Amount (Rs) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
a. Share Capital |
1 |
21,00,000 |
|
b. Reserves and Surplus |
2 |
1,40,000 |
|
2. Non-Current Liabilities |
|
|
|
3. Current Liabilities |
|
|
|
Total |
|
22,40,000 |
|
II. Assets |
|
|
|
1. Non-Current Assets |
|
|
|
2. Current Assets |
|
|
|
a. Cash and Cash Equivalents |
3 |
22,40,000 |
|
Total |
|
22,40,000 |
NOTES TO ACCOUNTS
|
Note No. |
Particulars |
Amount (Rs) |
|
1 |
Share Capital |
|
|
|
Authorised Share Capital |
|
|
|
30,000 shares of Rs 150 each |
45,00,000 |
|
|
Issued Share Capital |
|
|
|
15,000 shares of Rs 150 each |
22,50,000 |
|
|
Subscribed, Called-up and Paid-up Share Capital |
|
|
|
14,000 shares of Rs 150 each |
21,00,000 |
|
2 |
Reserves and Surplus |
|
|
|
Securities Premium |
1,40,000 |
|
3 |
Cash and Cash Equivalents |
|
|
|
Cash at Bank |
22,40,000 |
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