Samprag Ltd. has an authorised capital of Rs 20,00,000 divided into equity shares of Rs 10 each. The company invited applications for issuing 60,000 shares. Applications for 58,000 shares were received.
All calls were made and were duly received except the final call of Rs 3 per share on 2,000 shares. These shares were forfeited.
(a) Present the share capital in the Balance Sheet of the company as per Schedule III of the Companies Act, 2013.
(b) Also prepare 'Note to Accounts' for the same.
Dear Student,
Regards,
| Balance Sheet of the company as per Schedule III of the companies Act ,2013 | ||||
| S.N0. | Particulars | Note No. | Amount (in Rs) | Amount (in Rs) |
| I | Equity & Liabilities | |||
| a. Shareholders Fund | ||||
| i. Share Capital | 1 | 574,000 | ||
| Notes forming part of balance sheet | Amount (in Rs) | Amount (in Rs) | ||
| 1. | Share Capital | |||
| (a) | Authorised Share Capital | |||
| 2,00,000 equity shares of Rs 10 each | 2,000,000 | |||
| (b) | Issued Share Capital | |||
| 60,000 equity shares of Rs 10 each | 600,000 | |||
| (c) | Subscribed & Called up Share Capital | |||
| 58,000 equity shares of Rs 10 each | 580,000 | |||
| (d) | Paid up Share Capital | |||
| 58,000 equity shares of Rs 10 each | 580,000 | |||
| Less: shares not fully paid (2,000*10) | -20,000 | |||
| Add: Forfeited shares (2,000*7) | 14,000 | |||
| 574,000 | ||||
Regards,
