Question

Alfa Ltd. was formed with a Capital of 70,00,000 divided into 70,000 equity shares of 7 100 each. The company allotted 1,000 equity shares of 100 each as fully paid to the subscribers to the Memorandum of Association and 500 equity shares of 100 each as fully paid to the vendors against the purchase of machinery and offered 55,000 equity shares of 100 each at a premium of 10%. The issue price was payable as under: On application–50; on Allotment—40 (including premium); on call-Balance. Applications were received for 50,000 equity shares. Due amount was received except allotment money on 100 shares which were forfeited. The company did not make the call during the year. Show how Share Capital will be shown in Balance Sheet of the company as per Schedule III of the Companies Act, 2013.​

Answer 1

Answer:

Here, 12.5%=12.5100=1251000 . If you divide both the numerator and denominator of the fraction by 125 , you get 18 , which is your answer.