Question

0. 2. 'Tractors India Ltd.' is registered with an authorized capital of 10,00,00
divided into 1,00,000 equity shares of 10 each. The company issued 50,000 equity shar
at a premium of 5 per share. 32 per share were payable with application, 38 per sha
including premium on allotment and the balance amount on first and final call. The iss
was fully subscribed and all the amount due was received except the first and final
money on 500 shares allotted to Balram.
Present the 'Share Capital' in the Balance Sheet of 'Tractors India Ltd. as
Schedule III Part I of the Companies Act, 2013. Also prepare Notes to Accounts for
same.
[Ans. Subscribed and Fully Paid Capital 34,95,000;
Subscribed but not Fully Paid Capital
2,500.]​

Answer 1

Answer:

(Both Classes of Shares/Cash Book) Y Ltd. was formed with an authorised capital

* 40,00.000 divided into 3,00,000 equity shares of 10 each and 10,000 Preference shares

* 100 each. Both classes of shares were issued to the public in full and they are to be pa

Preference shar

follows:

Equity shares

Application

20 percent

Allotment

30 percent

First call

50 percent

Second call

All the calls were made and in due course the money were received in full. Give

necessary journal entries and prepare Cash Book.

25 perc

25 perc

25 perc

25 perc