Question

'Suvidha Ltd.' is registered with an authorised capital of Rs 10,00,00,000 divided into 10,00,000 equity shares of Rs 100 each. The company issued 1,00,000 shares for public subscription. A shareholder holding 100 shares, failed to pay the final call of Rs 20 per share. His shares were forfeited. The forfeited shares were re-issued at Rs 90 per share as fully paid up.
Present the 'Share Capital' in the Balance Sheet of the company as per Schedule VI Part I of the
Companies Act, 1956, Also prepare 'Notes to Accounts'.

Answer 1

Particulars	Note No	Rs
I. Equity and Liabilities   1. Shareholder’s Funds a     a. Share Capital     b. Reserve and Surplus	1 2	1,00,00,000 7,000
Total		1,00,07,000
II. Assets   2. Current Assets    a. Cash and Equivalents	3	1,00,07,000
Total		1,00,07,000

 

Note No	Particulars	Rs
1	Share Capital Authorised Share Capital     10,00,000 shares of 100 each Issued Share Capital     1,00,000 Equity Shares of 100 each Subscribed Called-up and Paid up Share Capital    1,00,000 Shares of 100 each	10,00,00,000   1,00,00,000   1,00,00,000
2	Reserve and Surplus Capital Reserve	7,000
3	Cash and Cash Equivalents Cash at Bank	1,00,07,000