Question

22. The authorised capital of Sarang Ltd. is * 1,20,00,000 divided into 12,00,000 shares of 10 each. Our
was made on 1st
Pass necessary Journal and Cash Book entries and prepare the
these, company issued 8,00,000 shares of 10 each at a premium of 20%. The amount per share was payas,
as follows:
2
On Application
On Allotment
76 (including premium)
On First Call
12
On Final Call
Balance
Public applied for 7,80,000 shares. All the money was duly received. Prepare an extract of Balance Sheet
of Sarang Ltd. as per Schedule ill, Part 1 of the Companies Act, 2013, disclosing the above information. Also
prepare 'Notes to Accounts for the same.
(Foreign 2013, Modified
Calls-in-Arrears and Calls-in-Advance​

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