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Question
Unnati Ltd. was registered with an authorised capital of ₹ 80,00,000 divided into equity shares of ₹ 10 each. The company issued a prospectus inviting applications for 60,000 equity shares. The company received applications for 58,000 equity shares. All calls were made and were duly received except the second and final call of ₹ 3 per share on 3,000 shares held by Manit. These shares were forfeited.
- Present the share capital in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, 2013.
- Also prepare "Notes to Accounts" for the same.
Ledger
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Solution
| Extract of Balance Sheet of Unnati Ltd as at... |
||||
| Particulars | Note No. | Current Year (₹) | Previous Year (₹) | |
| I. | EQUITY AND LIABILITIES | |||
| 1. | Shareholder's Funds | |||
| Share Capital | 1 | 5,71,000 | ||
Notes to Accounts:
| Note No. | Particulars | Amount (₹) | Amount (₹) |
| 1. | Share Capital | ||
| Authorised Capital | |||
| 80,000 equity shares of ₹10 each | 8,00,000 | ||
| Issued Capital | |||
| 60,000 equity shares of ₹10 each | 6,00,000 | ||
| Subscribed and fully paid capital | |||
| 55,000 equity shares of ₹10 each | 5,50,000 | 5,71,000 | |
| Add: Share forfeiture A/c (3,000 × ₹ 7) | 21,000 |
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