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Authorized Capital of Suhani Ltd . is ₹ 45,00,000 Divided into 30,000 Shares of ₹ 150 Each . - Accountancy

Ledger

Authorized capital of Suhani Ltd . is ₹ 45,00,000 divided into 30,000 shares of ₹ 150 each . Out of these  company issued 15,000 shares of ₹ 150 each at a premium of ₹ 10 per share . the amount was payable as follows:
₹ 50 per share on application , ₹ 40 per share on allotment (including premium ), ₹ 30 per share on firs t call and balance on final call . Public applied for 14,000 shares.  All the money was duly received .
Prepare an extract of Balance Sheet of Suhani Ltd . as per Schedule III , Part I of the companies Act, 2013 disclosing the above information . Also prepare 'Notes to Accounts ' for the same.

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Solution

Suhani Ltd.
Balance Sheet

Particulars

Note No.

Amount 

(Rs)

I. Equity and Liabilities

 

 

1. Shareholders’ Funds

 

 

a. Share Capital

1

21,00,000

b. Reserves and Surplus

2

1,40,000

2. Non-Current Liabilities

 

 

3. Current Liabilities

 

 

Total

 

22,40,000

II. Assets

 

 

1. Non-Current Assets

 

 

2. Current Assets

 

 

a. Cash and Cash Equivalents

3

22,40,000

Total

 

22,40,000

NOTES TO ACCOUNTS 

Note No.

Particulars

Amount

(Rs)

1

Share Capital

 

 

Authorised Share Capital

 

 

30,000 shares of Rs 150 each

45,00,000

 

Issued Share Capital

 

 

 15,000 shares of Rs 150 each

22,50,000

 

Subscribed, Called-up and Paid-up Share Capital

 

 

 14,000 shares of Rs 150 each

21,00,000

2

Reserves and Surplus

 

 

Securities Premium

1,40,000

3

Cash and Cash Equivalents

 

 

Cash at Bank

22,40,000

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APPEARS IN

TS Grewal Class 12 Accountancy - Double Entry Book Keeping Volume 2
Chapter 1 Accounting for Share Capital
Exercise | Q 13 | Page 115
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