Question

Authorized capital of Suhani Ltd. is ₹ 45,00,000 divided into 30,000 shares of ₹ 150 each. Out of these company issued 15,000 shares of ₹ 150 each at a premium of ₹ 10 per share. the amount was payable as follows:
₹ 50 per share on application, ₹ 40 per share on allotment (including premium), ₹ 30 per share on firs t call and balance on final call. Public applied for 14,000 shares. All the money was duly received .
Prepare an extract of Balance Sheet of Suhani Ltd . as per Schedule III, Part I of the companies Act, 2013 disclosing the above information. Also prepare Notes to Accounts for the same.

Answer 1

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Answer 2

Calculation of share capital:  

Share capital= No of shares x face value

= 30000 x 150

= Rs 45,00,000

Issued share capital =15000 x 150

= Rs 22,50,000

Called up share capital = 14000 x 150

=Rs 21,00,000