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The authorised capital of Suhani Ltd. is Rs 45,00,000 divided into 30,000 shares of Rs 150 each. Out of these, the company issued 15,000 shares of Rs 150 each at a premium of Rs 10 per share. The amount was payable as follows Rs 50 per share on application, Rs 40 per share on allotment (including premium) Rs 30 per share on first 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 II of the Companies Act, 2013 disclosing the above information. Also prepare Notes to Accounts for the same. |
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Answer» The authorised capital of Suhani Ltd. is Rs 45,00,000 divided into 30,000 shares of Rs 150 each. Out of these, the company issued 15,000 shares of Rs 150 each at a premium of Rs 10 per share. The amount was payable as follows Rs 50 per share on application, Rs 40 per share on allotment (including premium) Rs 30 per share on first 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 II of the Companies Act, 2013 disclosing the above information. Also prepare Notes to Accounts for the same. |
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