Question

On 1st April, 2022 Vivek Ltd. was formed with an authorized capital of ₹1,00,00,000 divided into 2,00,000 equity shares of ₹50 each. The company issued prospectus inviting applications for 1,80,000 shares. The issue price was payable as under:

On Application	₹15
On Allotment	₹20
On Call	Balance amount

The issue was fully subscribed and the company allotted shares to all the applicants. All money was received except allotment on 5,000 shares. The company did not make the call during the year.
Show the following:

1. Share capital in the Balance Sheet of the company as per Schedule-III Part-I of the Companies Act, 2013.
2. Also prepare ‘Notes to Accounts’ for the same.

Answer 1

Balance sheet of Vivek Ltd.
Particulars	Note no.	Amt. (₹)
I. Equity and Liabilities:
1. Shareholder’s Funds
a. Share Capital	1	63,00,000
		63,00,000

Notes to accounts:

Note no.	Particulars	Amt. (₹)
1	Share Capital
	Authorised Capital
	2,00,000 shares of ₹50 each	1,00,00,000
	Issued Capital
	1,80,000 shares of ₹50 each	90,00,000
	Subscribed Capital
	1,80,000 shares of ₹50 each	90,00,000
	Called and paid-up Capital
	1,80,000 shares of ₹35 each	63,00,000