Question

Vikas limited has an authorised capital of 14 lakh divided into four lakh equity shares of 10 out of these the company invited application for 300000 equity shares the public applied for 28 years and all the money word Julie received so how is Share Capital will appear in the balance sheet of the company also prepare notes to accounts

Answer 1

It is shown in Balance sheet -

Equity and Liabilities -

1) Shareholders' Funds

a) Share capital. 28,00,000

Under notes to accounts -

Notes to accounts:-

1) Share Capital

Equity Share capital

Authorised capital = 400000 @10 = 4000000

Issued capital = 3000000

Subscribed and paid up capital = 2800000(280000@10)

(Note : This answer is correct my knowledge.Interpretation differs from person to person.. So Please write the question properly..it is highly impossible to answer even if slightest of the information is omitted..)