Advertisements
Advertisements
Question
'Suvidha Ltd.' is registered with an authorised capital of Rs 10,00,00,000 divided into 10,00,000 equity shares of Rs 100 each. The company issued 1,00,000 shares for public subscription. A shareholder holding 100 shares, failed to pay the final call of Rs 20 per share. His shares were forfeited. The forfeited shares were re-issued at Rs 90 per share as fully paid up.
Present the 'Share Capital' in the Balance Sheet of the company as per Schedule VI Part I of the
Companies Act, 1956, Also prepare 'Notes to Accounts'.
Solution
| Particulars | Note No |
Rs |
|
I. Equity and Liabilities 1. Shareholder’s Funds aa. Share Capital b. Reserve and Surplus |
1 2 |
1,00,00,000 7,000 |
| Total | 1,00,07,000 | |
|
II. Assets 2. Current Assets a. Cash and Equivalents |
3 |
1,00,07,000 |
| Total | 1,00,07,000 |
| Note No | Particulars | Rs |
|
1
|
Share Capital Authorised Share Capital 10,00,000 shares of 100 each Issued Share Capital 1,00,000 Equity Shares of 100 each Subscribed Called-up and Paid up Share Capital 1,00,000 Shares of 100 each |
10,00,00,000
1,00,00,000
1,00,00,000 |
|
2
|
Reserve and Surplus Capital Reserve |
7,000 |
|
3
|
Cash and Cash Equivalents Cash at Bank |
1,00,07,000 |
APPEARS IN
RELATED QUESTIONS
Give the meaning of 'Share Capital'.
X Ltd. redeemed 1,000 6% Debentures of Rs 100 each by converting them into equity shares of Rs 100 each. The 6% Debentures were redeemable at a premium of 5% for which the Equity shares were issued as a premium of 25%. Pass the necessary journal entries for the redemption of the above mentioned debentures in the books of X Ltd.
Sundram Ltd. Purchased Furniture for Rs 3,00,000 from Ravindram Ltd. Rs 1,00,000 were paid by drawing a Promissory Note in favour of Ravindram Ltd. The balance was paid by issue of
Equity Shares of Rs 10 each at a premium of 25%.
Pass necessary Journal entries in the book of Sundram Ltd.
A gift given by a legal representative as per the will is called ________.
Answer in one Sentence only :
State the meaning of issued capital.
Answer in one Sentence only :
Write the meaning of equity share capital.
Answer in one Sentence only :
What is meant by convertible preference share?
Give one word / Term / phrase for the following statement :
Capital stated in the capital clause of Memorandum of Association.
Give one word / Term / phrase for the following statement :
The portion of subscribed capital which has not yet been called up.
Give one word / Term / phrase for the following statement :
The capital which is not disclosed in the balance sheet.
Give one word / Term / phrase for the following statement :
A preference share having right of conversion into equity.
Give one word / Term / phrase for the following statement :
The maximum amount beyond which a company is not allowed to raise funds.
Give one word / Term / phrase for the following statement :
The capital on which dividend is paid.
Give one word / Term / phrase for the following statement :
Shares having first right on surplus assets at the time of liquidation.
Select the most appropriate answer from the alternatives given below and rewrite the sentence :
The document inviting offers from public to subscribe its share is called _____________.
What is the authorised capital?
Under the provisions of the Companies Act, company can issue:
Assertion (A): The equity shareholders are paid dividend on the shares held by them.
Reason (R): As the equity shareholders are the owners and dividend form their earning.
