Question

X has an authorised capital of rs. 10,00,000 divided into equity shares of rs. 10 each. The company invited applications for 50,000 shares. Applications for 45,000 shares were received. All calls were duly received except the final call of rs. 2 per share on 1,000 shares. 500 of the shares on which the final call was not received were forfeited. Show how share capital will appear in the company balance sheet of the company as per schedule vi, part i of the companies act,1956.

Answer 1

The capital raised by issue of Equity Shares is termed as .... It invited applications for 15,000 Shares. ... ABC Ltd was registered with a Capital of Rs 10,00,000