citizen watches limited issued 100000 fully paid equity share of rupees 10 each towards consideration for purchase of machinery. prepare note to accounts
Dear Student
Please note that the authorised capital figures in the note of share capital is assumed.
Regards
| Citizen Watches Ltd. | ||
| BALANCE SHEET | ||
| Particulars | Note | 31 Mar. |
| ` | ||
| EQUITY AND LIABILITIES | ||
| SHAREHOLDERS' FUNDS | ||
| Share Capital | 3 | 1,000,000 |
| Reserves and Surplus (Capital Reserve) | ||
| SHARE APPLICATION MONEY PENDING ALLOTMENT | - | |
| NON-CURRENT LIABILITIES | ||
| Long-Term Borrowings | - | |
| Deferred Tax Liabilities (Net) | - | |
| CURRENT LIABILITIES | ||
| Trade Payables | - | |
| Other Current Liabilities | - | |
| Short-Term Provisions | - | |
| TOTAL | 1,000,000 | |
| ASSETS | ||
| NON-CURRENT ASSETS | ||
| Fixed Assets (Machinery) | 1,000,000 | |
| Tangible Assets | - | |
| Long term loans and advances | - | |
| Other non-current assets | - | |
| Deferred Tax Assets (Net) | - | |
| INVESTMENTS | ||
| CURRENT ASSETS | ||
| Inventories | - | |
| Cash and cash equivalents | ||
| Short-term loans and advances | - | |
| Other Current Assets | - | |
| TOTAL | 1,000,000 | |
| Summary of Significant Accounting Policies | ||
| Notes form an integral part of the Financial Statement | ||
| Note - 3 Share Capital | ||
| Particulars | Rs. | Rs. |
| Authorised Capital | ||
| 100,000 Equity Shares of Rs. 10/- each. | 1,000,000 | |
| Issued Capital | ||
| 100,000 Equity Shares of Rs. 10/- each. | 1,000,000 | |
| Subscribed Capital | ||
| Subscribed and Fully Paid up | ||
| 100,000 Equity Shares of Rs. 10/- each | 1,000,000 | |
| Subscribed but not Fully Paid up | ||
| 0 Equity Shares of Rs. 10/- each | - | |
| Less : Calls in Arrears | - | - |
| Add: Share Forfeiture A/c | - | |
| 1,000,000 |
Regards