The authorised capital of Suhas Ltd is Rs 50,000 divided into 25000 sh

1.	The authorised capital of Suhas Ltd is Rs 50,000 divided into 25000 shares of Rs 200 each. Out of these, the company issued 12000 shares of Rs 200 each at premium of 10%. The amount per share was payable as follows: Rs 60 on application, Rs 60 on allotment (including premium) Rs 30 on first call and balance on final call. Public application for 11000 shares, All the money was duly received. Prepare an extract of Balance Sheet of Suhas Ltd as per Revised Schedule III of the Companies Act 2013, disclosing the above information. Also prepare notes to accounts for the same.
Answer» The authorised capital of Suhas Ltd is Rs 50,000 divided into 25000 shares of Rs 200 each. Out of these, the company issued 12000 shares of Rs 200 each at premium of 10%. The amount per share was payable as follows: Rs 60 on application, Rs 60 on allotment (including premium) Rs 30 on first call and balance on final call. Public application for 11000 shares, All the money was duly received. Prepare an extract of Balance Sheet of Suhas Ltd as per Revised Schedule III of the Companies Act 2013, disclosing the above information. Also prepare notes to accounts for the same.

The authorised capital of Suhas Ltd is Rs 50,000 divided into 25000 shares of Rs 200 each. Out of these, the company issued 12000 shares of Rs 200 each at premium of 10%. The amount per share was payable as follows: Rs 60 on application, Rs 60 on allotment (including premium) Rs 30 on first call and balance on final call. Public application for 11000 shares, All the money was duly received. Prepare an extract of Balance Sheet of Suhas Ltd as per Revised Schedule III of the Companies Act 2013, disclosing the above information. Also prepare notes to accounts for the same.

Answer»

The authorised capital of Suhas Ltd is Rs 50,000 divided into 25000 shares of Rs 200 each. Out of these, the company issued 12000 shares of Rs 200 each at premium of 10%. The amount per share was payable as follows:

Rs 60 on application,

Rs 60 on allotment (including premium)

Rs 30 on first call and balance on final call.

Public application for 11000 shares, All the money was duly received. Prepare an extract of Balance Sheet of Suhas Ltd as per Revised Schedule III of the Companies Act 2013, disclosing the above information. Also prepare notes to accounts for the same.

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