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प्रश्न
Newtown Ltd. was formed on 1st April, 2012, with an authorized capital of ₹ 10,00,000 divided into equity shares of ₹ 10 each. It invited applications for 20,000 shares in the year of its formation, all of which were subscribed for and amount due on them fully received.
On 1st April, 2013, the company invited applications for another 50,000 shares. Applications for 45,000 shares were received. All calls were made and the amount received on them except the final call of ₹ 2 per share on 1,000 shares.
Out of the shares on which the final call was not received, 600 were forfeited.
On 1st April, 2013, the company also issued 2,000 6% debentures of ₹100 each at a discount of 4%, redeemable at a premium of 5% in four equal annual installments beginning from the second year of the issue.
The company had a balance of ₹ 1,00,000 in its Capital Reserve on 31st March, 2014.
You are required to show the items under the heading Equity and Liabilities in the Balance Sheet of the company as of 31st March, 2014 (as per Schedule III, showing clearly Notes to Accounts). Ignore interest on debentures. Loss on the issue of debentures is to be written off in the first year itself.
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उत्तर
| Balance Sheet as at 31st March, 2014 |
|||||
| Particulars | Note No. |
31st March, 2014 (₹) |
31st March, 2013 (₹) |
||
| I. | EQUITY AND LIABILITIES | ||||
| 1. | Shareholders’ Funds: | ||||
| (a) Share Capital | 1 | 6,48,000 | |||
| (b) Reserves and Surplus | 2 | 82,000 | |||
| 2. | Non-Current Liabilities: | ||||
| (a) Long-term Borrowings | 3 | 2,10,000 | |||
| Total | 9,40,000 | ||||
Notes to Accounts:
| Particulars | Amount (₹) |
Amount (₹) |
Amount (₹) |
|
| (1) | Share Capital: | |||
| Authorized Capital: | ||||
| 1,00,000 Equity Shares of ₹ 10 each | 10,00,000 | |||
| Issued Capital: | ||||
| 70,000 Equity Shares of ₹ 10 each | 7,00,000 | |||
| Subscribed and Fully Paid Capital: | ||||
| 64,000 Equity Shares of ₹ 10 each fully Called up | 6,40,000 | |||
| Subscribed, but not Fully Paid Capital: | ||||
| 400 Equity Shares of ₹ 10 each fully Called up | 4,000 | |||
| Less: Calls in Arrears (400 Shares × ₹2) | 800 | 3,200 | 6,43,200 | |
| Share Forfeited A/c (600 Shares × ₹8) | 4,800 | |||
| (2) | Reserve and Surplus: | |||
| Capital Reserve | 1,00,000 | |||
| Less: Loss on Issue of Debentures written off: | ||||
| Discount on Issue | 8,000 | |||
| Premium on Redemption | 10,000 | 18,000 | 82,000 | |
| (3) | Long-term Borrowings: | |||
| 2,000, 6% Debentures of ₹ 100 each | 2,00,000 | |||
| Premium on Redemption of Debentures | 10,000 | 2,10,000 |
