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Gopal Ltd. Was Registered with an Authorised Capital of ₹ 50,00,000 Divided into Equity Shares of ₹ 100 Each . - Accountancy

Ledger

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.

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Solution

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

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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 1 | Page 113
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