1 :- Global Trade Ltd. has authorised share capital of Rs 1,00,00,000 divided into 1,00,000 Equity Shares of Rs 100 each. It has existing issued and paidup capital of Rs 25,00,000. It further issued to public 25,000 Equity Shares at a premium of 20% for subscription payable as under:
On Application – Rs 30
On Allotment – Rs 60 and
On Call Balance Amount
The issue was fully subscribed and allotment was made to all the applicants. The company did not make the call during the year.
Show Share Capital in the Balance Sheet of the company.
2 :- Shri Ganga Ltd. was registered with an authorised capital of Rs 7,00,000 divided into equity shares of Rs 10 each. It offered to the public for subscription 50,000 equity shares. The amount payable as follows:
On Application : Rs 4 per share
On Allotment : Rs 4 per share
On first and final Call : Balance
The issue was fully subscribed. All the amounts were duly received except the first and final call money on 4,000 equity shares.
Show the Share Capital in the Balance Sheet of the company as per Schedule III, Part 1 of the Companies Act, 2013. Also prepare ‘Notes to Accounts’ for the same.
3 :- Sunstar Ltd. Has an authorised capital of Rs 20,00,000 divided into equity shares of Rs 10 each. The company invited applications for issuing of 60,000 shares. Applications were received for 58,000 shares.
All calls were made and were duly received except the final call of Rs 3 per share on 2,000 shares. These shares are forfeited.
Present the ‘Share Capital’ in the Balance Sheet of the Company as per Schedule III, Part 1 of the Companies Act, 2013. Also prepare ‘Notes to Accounts’ for the same.
4 :- Star Ltd. is registered with capital of Rs 50,00,000 dividend into 50,000 equity shares of Rs 100 each. The Company issued 25,000 equity shares for subscription. Subscription was received for 23,750 shares and all the due amount was duly received, except the first and final call of Rs 20 per share on 600 shares. Show the ‘Share Capital’ in the Balance Sheet of the company.
5 :- Grand Hotels Ltd. had authorised capital of Rs 50,00,000 dividend into 50,000 equity shares of Rs 100 each. It issued 10,000 Equity Shares to public for subscription on the following terms:
On Application : Rs 40 per share
On Allotment : Rs 30 per share
Balance on First and Final Call.
Shares were fully subscribed and amounts called were duly received. First and Final call was not yet made. Prepare Balance Sheet of the company showing Share Capital.
6 :- Altaur Ltd. Was registered with an authorised Capital of Rs 4,00,00,000 dividend in 25,00,000 Equity Shares of Rs 10 each and 1,50,000, 9% Preference Shares of Rs 100 each. The company issued 8,00,000 Equity Shares for public subscription at 20% premium, payable Rs 3 on application; Rs 7 on allotment (including premium) and balance on call. Public had applied for 10,00,000 shares. Excess Applications were sent letters of regret.
All the dues on allotment were received except on 15,000 shares held by Sanju. Another shareholder Rocky paid his call dues along with allotment on his holding of 25,000 shares. You are required to prepare the Balance Sheet of the company as per Schedule III of Companies Act, 2013, showing Share Capital balance and also prepare Notes to Accounts.