Question

A comapany has an authorised capital of rs.200000 divided into 20000 eq. Shares of rs.10 each.it decided to issue 12000shares for subscription.applications were received for 12000 shares and shares were allotted to all the applicants.upto31st march,2019 it had called 9 per share.all shareholders have duly paid the amount called except one shareholders,holding 1000 shares who has paid only rs.7 per share.show the 'share capital' inthe balance sheet of the company.also prepare 'notes to accounts '.

Answer 1

Answer:

the authrised capital of mohan ltd is Rs200000which is divided in 20000 equity share of Rs 10 each out of these share 12000 equity shares have been issued to the public payble as Rs2 on application Rs4 on allotment and Rs4 on first and final call all the amount have been duly received pass the necessary entries in the book of company