7 :- Excel Ltd. Was registered with capital of Rs 5,00,000 dividend into 50,000 Equity shares of Rs 10 each. It issued 20,000 Equity Shares to public for subscription. The shares were subscibed and calls were made and received except first and final call of Rs 2 on 500 shares held by Varun.
Prepare Balance Sheet of the company showing Share Capital.
8 :- Red Roses Ltd. was registered with capital of Rs 25,00,000 divided into 25,000 Equity shares of Rs 100 each. It issued 15,000 Equity shares to public for subscription. The shares were subscribed and calls were made and received except allotment money of Rs 40 on 100 shares held by Parul and first and final call of Rs 20 on 500 shares, including shares held by Parul.
Prepare Balance Sheet of the company showing Share Capital.
9 :- East India Hotels Ltd. was registered with authorised capital of Rs 25,00,000 divided into 2,50,000 Equity Shares of Rs 10 each. It issued 1,50,000 Equity Shares to public for subscription. The shares were subscribed and calls were made and received. First and final call of Rs 3 was not made. Paresh holder of 5,000 shares paid the call money along with the allotment money.
Prepare Balance Sheet of the company showing Share Capital.
10 :- Shuchi Ltd. Was registered with a capital of Rs 5,00,000 in shares of Rs 10 each and issued 20,000 such shares at a premium of Rs 2 per share, payable as Rs 2 per share on application, Rs 5 per share on allotment (including premium) and Rs 2 per share on first call made three months later. All the money payable on application and allotment was duly received but when the first call was made, one shareholder paid the entire balance on his holding of 300 shares and another shareholder holding 1,000 shares failed to pay the first call money.
Pass Journal entries to record the above transactions and show how they will be shown in the company’s Balance Sheet.