Question

Happy Days Ltd. was formed with an authorised capital of ₹50,00,000 divided into 5,00,000 equity shares of ₹10 each. The company issued prospectus inviting applications for 4,00,000 equity shares. The company received applications for 3,70,000 equity shares. During the first year, ₹8 per share were called. Suman holding 7,000 shares and Zia holding 5,000 shares did not pay the first call of ₹3 per share. Zia's shares were forfeited after the first call and later on 3,000 of the forfeited shares were re-issued at ₹7 per share, ₹8 called up.

In the Balance Sheet of a company, under the heading share capital, at the last is shown ______.

Options

• Authorised Share Capital

• Subscribed Share Capital

• Issued Share Capital

• Reserve Share Capital

Answer 1

In the Balance Sheet of a company, under the heading share capital, at the last is shown Reserve Share Capital.