'X' Ltd. was formed with a capital of Rs. 15,00,000 divided into equity shares of Rs. 10 each. Out of these, 6,000 were issued into the vendors as fully paid as purchase consideration for a building acquired and 3,000 shares were issued to signatories to the Memorandum of Association as fully paid. The Directors offered 19,500 shares to the public and called up Rs. 6 per share and received the entire called up amount on shares allotted. Prepare a Balance Sheet showing Share Capital as per Schedule III Part I of Companies Act, 2013 from the above transactions in the books of 'X' Ltd.

'X' Ltd. was formed with a capital of Rs. 15,00,000 divided into equit

1.	'X' Ltd. was formed with a capital of Rs. 15,00,000 divided into equity shares of Rs. 10 each. Out of these, 6,000 were issued into the vendors as fully paid as purchase consideration for a building acquired and 3,000 shares were issued to signatories to the Memorandum of Association as fully paid. The Directors offered 19,500 shares to the public and called up Rs. 6 per share and received the entire called up amount on shares allotted. Prepare a Balance Sheet showing Share Capital as per Schedule III Part I of Companies Act, 2013 from the above transactions in the books of 'X' Ltd.
Answer» 'X' Ltd. was formed with a capital of Rs. 15,00,000 divided into equity shares of Rs. 10 each. Out of these, 6,000 were issued into the vendors as fully paid as purchase consideration for a building acquired and 3,000 shares were issued to signatories to the Memorandum of Association as fully paid. The Directors offered 19,500 shares to the public and called up Rs. 6 per share and received the entire called up amount on shares allotted. Prepare a Balance Sheet showing Share Capital as per Schedule III Part I of Companies Act, 2013 from the above transactions in the books of 'X' Ltd.