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Question
Himmat Ltd has authorised share capital of ₹ 50,00,000 divided into 5,00,000 Equity Shares of ₹ 10 each . It has existing issued and paid up capital of ₹ 5,00,000. It further issued to public 1,50,000 Equity Shares at par for subscription payable as under:
| On Application: | ₹ 3 |
| On Allotment: | ₹ 4 and |
| On Call: | Balance Amount. |
The issue was fully subscribed and allotment was made to all the applicants . Call was made during the year and was duly received.
Show share capital of the company in the Balance Sheet of the Company.
Solution
Balance Sheet of Himmat Ltd.
|
Particulars |
Note No. |
Amount (Rs) |
|
I. Equity and Liabilities |
|
|
|
1. Shareholders’ Funds |
|
|
|
a. Share Capital |
1 |
20,00,000 |
|
Total |
|
20,00,000 |
|
II. Assets |
|
|
|
2. Current Assets |
|
|
|
2 |
20,00,000 |
|
Total |
|
20,00,000 |
Notes to Accounts
|
Particulars |
Amount (Rs) |
||
|
1. Share Capital |
|
||
|
Authorised Share Capital |
|
||
|
5,00,000 Equity Shares of Rs 10 each |
50,00,000 |
||
|
Issued Share Capital |
|
||
|
50,000 Equity Shares of Rs 10 each |
5,00,000 |
20,00,000 |
|
|
1,50,000 Equity Shares of Rs 10 each |
15,00,000 |
||
|
Subscribed and Paid-up Share Capital |
|
||
|
50,000 Equity Shares of Rs 10 each |
5,00,000 |
20,00,000 |
|
|
1,50,000 Equity Shares of Rs 10 each |
15,00,000 |
||
|
2. Cash and Cash Equivalents |
|
||
|
Bank |
20,00,000 |
||
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