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 paid up 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.
Solution :-
