Question

Q.N.1 to 32 strictly in the serial order of Illustrations
Disclosure of Share Capital in Balance Sheet
1. 'India Auto Ltd.' is registered with an authorised capital of 7,00,00,000 divided into
7,00,000 shares of 100 each. The company issued
50,000 shares to the vendor for building
purchased and 2,00,000 shares were issued to the public. The amount was payable as
follows:
On Application and Allotment : *20 per share
On First Call : 50 per share
On Second and Final Call : The balance
All calls were made and were duly received except on 100 shares held by Rajani, who failed
to pay the second and final call.
Present the "Share Capital in the Balance Sheet of the company as per Schedule VI, Part I
of the Companies Act, 2013. Also prepare ‘Notes to Accounts'.
[Ans. Share Capital 2,49,97,000.]
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Answer 1

Explanation:

 'India Auto Ltd.' is registered with an authorised capital of 7,00,00,000 divided into 7,00,000 shares of 100 each. The company issued 50,000 ...