1. Vijay Ltd. Was registered with an authorized capital of 15,00,000 divided into 1,50,000 equity shares of 10 each.
Company issued 1,00,000 equity shares of 10 each at premium of 2 per share. Company received application for 80,000 equity shares and were allotted the shares.
Company received application money 3 per share, allotment money 4 per share
(Including premium) and first call money 3 per share.
The Directors have not made final call of 2 per share. All money were received except one shareholder holding 500 shares did not pay first call.
Show Authorized Capital, Issued Capital, Subscribed Capital, Called-up Capital, Paid-up Capital, Calls in Arrears and Share Premium amount in company balance sheet.
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Cr. Balance Sheet as on ….. Dr. |
Liabilities | Amount | Amount | Assets | Amount | Amount |
Authorized Capital: |
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1,50,000 equity share of 10 each |
| 15,00,000 | Cash at bank |
| 7,98,500 |
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Issued Capital: |
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1,00,000 equity shares of 10 each |
| 10,00,000 |
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Subscribed Capital: |
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80,000 equity shares of 10 each |
| 8,00,000 |
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80,000 equity shares 8 each |
| 6,40,000 |
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Paid-up Share Capital |
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80,000 equity shares at 8 per share | 6,40,000 |
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(-) Calls in Arrears (500 shares at 3 per share) | 1,500 | 6,38,500 |
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Share Premium/Securities A/c (80,000 shares at 2 per share) |
| 1,60,000 |
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| 7,98,500 |
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| 7,98,500 |
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