Question

Himmat Ltd has an authorised share capital of ₹ 50,00,000 divided into 5,00,000 Equity Shares of ₹ 10 each. It has existing issued and paid up capital of ₹ 5,00,000. It further issued to public 1,50,000 Equity Shares at par for subscription payable as under:

On Application:	₹ 3
On Allotment:	₹ 4 and
On Call:	Balance Amount.

The issue was fully subscribed and allotment was made to all the applicants . Call was made during the year and was duly received.
Show share capital of the company in the Balance Sheet of the Company.

Answer 1

Balance Sheet of Himmat Ltd.
	Particulars	Note No.	Amount (₹)
I.	Equity and Liabilities
1.	Shareholders’ Funds
a.	Share Capital	1	20,00,000
	Total		20,00,000
II.	Assets
2.	Current Assets
a.	Cash and Cash Equivalents	2	20,00,000
	Total		20,00,000

 

Notes to Accounts
	Particulars	Amount (₹)	Amount (₹)
1.	Share Capital
	Authorised Share Capital
	5,00,000 Equity Shares of Rs 10 each		50,00,000
	Issued Share Capital
	50,000 Equity Shares of Rs 10 each	5,00,000
	1,50,000 Equity Shares of Rs 10 each	15,00,000	20,00,000
	Subscribed and Paid-up Share Capital
	50,000 Equity Shares of Rs 10 each	5,00,000
	1,50,000 Equity Shares of Rs 10 each	15,00,000	20,00,000
2.	Cash and Cash Equivalents
	Cash at Bank		20,00,000