Question

Gopal Ltd. was registered with an authorised capital of ₹ 50,00,000 divided into Equity Shares of ₹  100 each . The company offered for public subscription all the shares . Public applied for 45,000 shares and allotment was made to all the applicants. All the calls were made and were duly received except the final call of ₹  20 per share on 500 shares.
Prepare the Balance Sheet of the company showing the different types of share capital.

Answer 1

Gopal Ltd.
Balance Sheet

Particulars	Note No.	Amount (Rs)
I.  Equity and Liabilities
1. Shareholders’ Funds
a. Share Capital	1	44,90,000
2. Non-Current Liabilities
3. Current Liabilities
Total		44,90,000
II.  Assets
1. Non-Current Assets
2. Current Assets
a. Cash and Cash Equivalents	2	44,90,000
Total		44,90,000

NOTES TO ACCOUNTS 

Note No.	Particulars		Amount (Rs)
1	Share Capital
	Authorised Share Capital
	50,000 equity shares of Rs 100 each		50,00,000
	Issued Share Capital
	50,000 equity shares of Rs 100 each		50,00,000
	Subscribed, Called-up and Paid-up Share Capital		44,90,000
	45,000 equity shares of Rs 100 each	45,00,000
	Less: Calls in Arrears (500 shares × Rs 20)	(10,000)
2	Cash and Cash Equivalents
	Cash at Bank		44,90,000